New Issue: CIBC prices $10.12 million Accelerated Return Notes on Global X ETF

By William Gullotti

Buffalo, N.Y., Aug. 22 – Canadian Imperial Bank of Commerce priced $10.12 million of 0% Accelerated Return Notes due Oct. 25, 2024 linked to the Global X Robotics & Artificial Intelligence ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any ETF gain, capped at par plus 25.57%.

Investors will be exposed to any ETF decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying fund:	Global X Robotics & Artificial Intelligence ETF
Amount:	$10,118,250
Maturity:	Oct. 25, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any ETF gain, capped at par plus 25.57%; otherwise, full exposure to any ETF decline
Initial level:	$25.38
Pricing date:	Aug. 17
Settlement date:	Aug. 24
Agent:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	13607Y337

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