New Issue: CIBC prices $218,000 notes linked to 26 stocks picked by Raymond James

By Angela McDaniels

Tacoma, Wash., Oct. 21 – Canadian Imperial Bank of Commerce priced $218,000 of notes due Oct. 21, 2021 linked to a basket of 26 stocks selected by Raymond James & Associates, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of Allstate Corp., Avnet, Inc., Comcast Corp., Cisco Systems, Inc., CVS Health Corp., Delta Air Lines, Inc., Brinker International, Inc., Johnson & Johnson, M.D.C. Holdings, Inc., Medtronic plc, Marathon Petroleum Corp., NexPoint Residential Trust, Inc., Omega Healthcare Investors, Inc., Oracle Corp., Polaris Industries Inc., Phillips 66, Qualcomm Inc., Republic Services, Inc., Skyworks Solutions, Inc., TCF Financial Corp., Targa Resources Corp., UnitedHealth Group Inc., Union Pacific Corp., United Parcel Service, Inc., Waste Management, Inc. and Walmart Inc. Each stock has a weight of 3.8461%.

Interest, if any, is payable quarterly. For each $1,000 principal amount, the coupon amount will equal the sum of the dividend amounts for the stocks multiplied by the 96.6% participation rate.

For each stock, the dividend amount is an amount in dollars equal to (a) $1,000 divided by the applicable initial share price multiplied by (b) the applicable stock weighting multiplied by (c) 100% of the gross cash distributions (including ordinary and extraordinary dividends), after withholding tax that would be imposed on CIBC with respect to such dividends, if any, per share or unit of the stock declared by the stock issuer where the date that the applicable stock has commenced trading ex-dividend as to each relevant distribution occurs during the relevant coupon calculation period.

For each $1,000 principal amount of notes, the payout at maturity will be $1,000 multiplied by the basket level percentage multiplied by the 96.6% participation rate. The basket level percentage is the sum of the weighted stock performances. Because the participation rate is less than 100%, the basket level percentage must exceed 103.52% in order for investors to receive more than par.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Notes
Underlying stocks:	Allstate Corp. (Symbol: ALL), Avnet, Inc. (Symbol: AVT), Comcast Corp. (Symbol: CMCSA), Cisco Systems, Inc. (Symbol: CSCO), CVS Health Corp. (Symbol: CVS), Delta Air Lines, Inc. (Symbol: DAL), Brinker International, Inc. (Symbol: EAT), Johnson & Johnson (Symbol: JNJ), M.D.C. Holdings, Inc. (Symbol: MDC), Medtronic plc (Symbol: MDT), Marathon Petroleum Corp. (Symbol: MPC), NexPoint Residential Trust, Inc. (Symbol: NXRT), Omega Healthcare Investors, Inc. (Symbol: OHI), Oracle Corp. (Symbol: ORCL), Polaris Industries Inc. (Symbol: PII), Phillips 66 (Symbol: PSX), Qualcomm Inc. (Symbol: QCOM), Republic Services, Inc. (Symbol: RSG), Skyworks Solutions, Inc. (Symbol: SWKS), TCF Financial Corp. (Symbol: TCF), Targa Resources Corp. (Symbol: TRGP), UnitedHealth Group Inc. (Symbol: UNH), Union Pacific Corp. (Symbol: UNP), United Parcel Service, Inc. (Symbol: UPS), Waste Management, Inc. (Symbol: WM) and Walmart Inc.; equally weighted
Amount:	$218,000
Maturity:	Oct. 21, 2021
Coupon:	Sum of dividend amounts for stocks multiplied by 96.6% participation rate; payable quarterly
Price:	Par
Payout at maturity:	$1,000 multiplied by basket level percentage multiplied by 96.6% participation rate
Pricing date:	Oct. 18
Settlement date:	Oct. 23
Underwriter:	CIBC World Markets Corp.
Fees:	2%
Cusip:	136071BC0

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