New Issue: CIBC sells $635,000 market-linked autocalls with buffered downside on oil ETF

Chicago, Sept. 13 – Canadian Imperial Bank of Commerce priced $635,000 of 0% market-linked autocallable securities with fixed percentage buffered downside due Sept. 2, 2025 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium of 17.8% annualized if the fund closes at or above its initial level on any semiannual call observation date starting after one year.

If the notes are not called, the payout at maturity will be par unless the fund falls by more than 20%, in which case investors will be exposed to losses beyond 20%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked autocallable securities with fixed-percentage buffered downside
Underlying fund:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$635,000
Maturity:	Sept. 2, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If not called, par unless fund falls by more than 20%, in which case exposure to losses beyond 20%
Call:	Automatically at par plus 17.8% annualized call premium if the fund closes at or above its initial level on any semiannual call observation date after one year
Initial level:	$143.30
Buffer level:	$114.64, 80% of initial level
Pricing date:	Aug. 30, 2022
Settlement date:	Sept. 2, 2022
Agent:	Wells Fargo Securities, LLC
Fees:	2.875%
Cusip:	13607XAT4

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