New Issue: CIBC sells $2.37 million buffered market-linked autocalls on Dow

By Kiku Steinfeld

Chicago, April 30 – Canadian Imperial Bank of Commerce priced $2.37 million of 0% market-linked securities due April 24, 2025 – 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 5% if the index closes at or above its initial level on any annual 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:	$2,365,000
Maturity:	April 24, 2025
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 5% if index closes at or above its initial level on any annual determination date
Initial level:	23,685.42
Threshold level:	21,316.878, 90% of initial level
Pricing date:	April 16
Settlement date:	April 21
Agent:	Wells Fargo Securities, LLC
Fees:	2.825%
Cusip:	13605W2T7

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