New Issue: CIBC prices $5.71 million contingent upside participation market-linked securities on S&P

By Wendy Van Sickle

Columbus, Ohio, Jan. 11 – Canadian Imperial Bank of Commerce priced $5.71 million of 0% market-linked securities with upside participation with contingent absolute return and contingent downside due Jan. 4, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 102% of any index gain.

If the index falls by up to 40%, the payout will be par plus the absolute value of the index return. If the index falls by more than 40%, investors will be fully exposed to the loss.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities, upside participation with contingent absolute return and contingent downside
Underlying index:	S&P 500 index
Amount:	$5,714,000
Maturity:	Jan. 4, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 102% of any index gain; if the index falls by up to 40%, par plus absolute value of return; otherwise, lose 1% for each 1% decline in index
Initial level:	3,849.28
Threshold level:	2,309.568; 60% of initial level
Pricing date:	Dec. 29
Settlement date:	Jan. 4
Agent:	Wells Fargo Securities, LLC
Fees:	3.62%
Cusip:	13607XDU8

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