New Issue: CIBC sells $1 million market-linked notes with contingent fixed return on Biotech ETF

By Kiku Steinfeld

Chicago, June 29 – Canadian Imperial Bank of Commerce priced $1 million of 0% market-linked securities with contingent fixed return and contingent downside due June 29, 2023 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund price increases or stays the same, the payout at maturity will be par plus 20%

If the fund price decreases up to 15%, the payout at maturity will be par. Otherwise, investors will be exposed to all losses from the fund’s initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with contingent fixed return and contingent downside
Underlying fund:	SPDR S&P Biotech ETF
Amount:	$1 million
Maturity:	June 29, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If fund price increases or stays the same, par plus 20%; if fund price decreases by up to 15%, par; otherwise, 1% loss for every 1% decline of fund
Initial level:	$118.22
Threshold level:	$100.487; 85% of initial level
Pricing date:	Dec. 23, 2021
Settlement date:	Dec. 29, 2021
Agent:	Wells Fargo Securities, LLC
Fees:	1.88%
Cusip:	13607X4E4

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