New Issue: CIBC sells $3.51 million buffered market-linked autocalls on Dow

By Sarah Lizee

Olympia, Wash., June 25 – Canadian Imperial Bank of Commerce priced $3.51 million of 0% market-linked securities due June 24, 2024 – autocallable with fixed percentage buffered downside linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual premium of 6.8% if the index closes at or above its initial level on any semiannual observation date.

The payout at maturity will be par unless the index 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 index:	Dow Jones industrial average
Amount:	$3,506,000
Maturity:	June 24, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes above threshold, par; otherwise, 1% loss for each 1% decline beyond 10%
Call:	At par plus annual premium of 6.8% if index closes at or above its initial level on any semiannual determination date
Initial level:	26,119.61
Threshold level:	23,507.649, 90% of initial level
Pricing date:	June 17
Settlement date:	June 22
Agent:	Wells Fargo Securities, LLC
Fees:	2.9%
Cusip:	13605WYT2

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