New Issue: CIBC prices $3 million floating-rate notes due 2032 on SOFR ICE swap rate

By Wendy Van Sickle

Columbus, Ohio, Oct. 4 – Canadian Imperial Bank of Commerce priced $3 million of floating-rate notes due Oct. 4, 2032 linked to the one-year U.S. dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be equal to the swap rate plus 130 basis points, subject to a floor of 0% per annum. Interest will be payable monthly.

CIBC Capital Markets is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Floating-rate notes
Underlying index:	One-year U.S. dollar SOFR ICE swap rate
Amount:	$3 million
Maturity:	Oct. 4, 2032
Coupon:	Swap rate plus 130 bps, subject to a floor of 0% per annum; payable monthly
Price:	Par
Payout at maturity:	Par
Pricing date:	Sept. 30
Settlement date:	Oct. 4
Agent:	CIBC Capital Markets
Fees:	1.2%
Cusip:	13607XC39

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