New Issue: CIBC sells $2.7 million buffered market-linked autocalls on Gold Miners

By Wendy Van Sickle

Columbus, Ohio, July 9 – Canadian Imperial Bank of Commerce priced $2.7 million of 0% market-linked securities due July 9, 2024 – autocallable with fixed percentage buffered downside linked to the Van Eck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual premium of 11% if the ETF closes at or above its initial level on any annual observation date.

If the notes have not been called, the payout at maturity will be par unless the ETF finishes below its 90% threshold level, in which case investors will have exposure to the losses beyond 10%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market linked securities – autocallable with fixed percentage buffered downside
Underlying ETF:	Van Eck Vectors Gold Miners ETF
Amount:	$2,698,000
Maturity:	July 9, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF finishes above threshold, par; otherwise, 1% loss for each 1% decline beyond 10%
Call:	At par plus annual premium of 11% if ETF closes at or above its initial level on any annual determination date
Initial level:	$36.68
Threshold level:	$33.012, 90% of initial level
Pricing date:	June 30
Settlement date:	July 6
Agent:	Wells Fargo Securities, LLC
Fees:	2.325%
Cusip:	13605WZG9

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