New Issue: CIBC sells $11.61 million trigger autocallable contingent yield notes on two indexes

By Wendy Van Sickle

Columbus, Ohio, April 2 – Canadian Imperial Bank of Commerce priced $11.61 million of trigger autocallable contingent yield notes due March 29, 2029 linked to the performance of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at the rate of 7.99% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the related observation date.

After one year, the notes will be automatically called at par plus coupon if each index closes at or above its initial level on any quarterly call observation date.

If the notes are not called and the final level of each index is greater than or equal to the downside threshold level, 70% of the initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.

UBS Financial Services Inc. and CIBC Capital Markets are the agents.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Trigger autocallable contingent yield notes
Underlying indexes:	Russell 2000 index, Euro Stoxx 50 index
Amount:	$11,611,500
Maturity:	March 29, 2029
Coupon:	7.99% per year, paid quarterly, if each index closes at or above its coupon barrier on any related observation date
Price:	Par of $10
Payout at maturity:	Par plus final coupon unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard index from initial level
Call:	Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date after one year
Initial levels:	2,070.163 for Russell, 5,064.18 for Stoxx
Coupon barrier levels:	1,449.114 for Russell, 3,544.93 for Stoxx; 70% of initial levels
Downside thresholds:	1,449.114 for Russell, 3,544.93 for Stoxx; 70% of initial levels
Pricing date:	March 26
Settlement date:	March 28
Agents:	UBS Financial Services Inc. and CIBC Capital Markets
Fees:	2.5%
Cusip:	13608P863

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