New Issue: CIBC sells $3 million issuer callable barrier notes linked to S&P, Russell, Nasdaq

By William Gullotti

Buffalo, N.Y., Sept. 27 – Canadian Imperial Bank of Commerce priced $3 million of 0% Issuer callable barrier notes due Sept. 29, 2026 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes may be called at par plus a 10.7% annualized call premium on any semiannual call date after one year.

If the notes are not called and each index finishes at or above its 60% barrier level, the payout at maturity will be par plus 32.1%.

Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Issuer callable barrier notes
Underlying indexes:	S&P 500 index, Russell 2000 index, Nasdaq-100 index
Amount:	$3 million
Maturity:	Sept. 29, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If each index finishes at or above barrier level, par plus 32.1%; otherwise, full exposure to decline of worst performer from initial level
Call option:	At par plus 10.7% annualized call premium on any semiannual call date after one year
Initial levels:	4,320.06 for S&P, 1,776.503 for Russell, 14,701.1 for Nasdaq
Barrier levels:	2,592.04 for S&P, 1,065.902 for Russell, 8,820.66 for Nasdaq; 60% of initial levels
Pricing date:	Sept. 22
Settlement date:	Sept. 29
Agent:	BofA Securities, Inc.
Fees:	0.75%
Cusip:	13608M266

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