New Issue: CIBC sells $1.14 million buffered market-linked autocalls on oil and gas ETF

By Wendy Van Sickle

Columbus, Ohio, Oct. 8 – Canadian Imperial Bank of Commerce priced $1.14 million of market-linked securities due Oct. 3, 2022 – autocallable with fixed percentage buffered downside 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 called at par plus an annual premium of 13.3% if the fund closes at or above its initial level on any annual observation date.

The payout at maturity will be par unless the fund finishes below its 85% buffer level, in which case the payout will be par plus the return of the fund with exposure to any losses beyond 15%

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market linked securities – autocallable with fixed percentage buffered downside
Underlying fund:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$1,144,000
Maturity:	Oct. 3, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If fund closes above threshold, par; otherwise, 1% loss for each 1% decline
Call:	At par plus annual premium of 13.3% if fund closes at or above its initial level on any annual determination date
Initial level:	$22.36
Threshold level:	$19.006, 85% of initial level
Pricing date:	Sept. 30
Settlement date:	Oct. 3
Agent:	Wells Fargo Securities LLC
Fees:	3.15%
Cusip:	13605WSC6

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