New Issue: CIBC sells $50.52 million market-linked step up notes tied to Stoxx

Chicago, March 3 – Canadian Imperial Bank of Commerce priced $50.52 million of autocallable market-linked step up notes due Feb. 27, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called automatically at par plus an annualized call premium of 13.6% if the index closes at or above its initial level on March 4, 2021 or Feb. 17, 2022.

If the index gains, the payout at maturity will be the return of the index with a minimum step up payment of 35% over par.

Otherwise, investors will be fully exposed to the losses of the index.

BofA Securities Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked step up notes
Underlying index:	Euro Stoxx 50
Amount:	$50,521,250
Maturity:	Feb. 27, 2023
Coupon:	0%
Price:	Par of $10
Call:	At par plus a call premium of 13.6% per year if the index closes at or above initial level on March 4, 2021 or Feb. 17, 2022
Payout at maturity:	If index gains, par plus index return with a minimum of 35% of par; otherwise, full exposure to losses
Initial level:	3,455.92
Pricing date:	Feb. 27
Settlement date:	March 6
Agent:	BofA Securities Inc.
Fees:	2%
Cusip:	13607G260

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