CIBC plans five-year contingent coupon autocallables tied to indexes

By Susanna Moon

Chicago, May 17 – Canadian Imperial Bank of Commerce plans to price contingent coupon autocallable notes due May 31, 2022 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any valuation date other than the final date.

The payout at maturity will be par unless either index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing index.

Jefferies LLC is the agent.

The notes will price on May 26 and settle on May 31.

The Cusip number is 13605WCW9.

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