New Issue: CIBC prices $695,000 buffered autocallables linked to Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., Dec. 9 – Canadian Imperial Bank of Commerce priced $695,000 of 0% autocallable market-linked securities with fixed percentage buffered downside due Dec. 2, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus 7.5% per year if the index closes at or above the initial level on any of three annual call observation dates.

If the notes are not called, the payout at maturity will be par unless the final index level is less than the threshold level, 90% of the initial index level, in which case investors will lose 1% for every 1% that the index declines beyond 10%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Autocallable market-linked securities with fixed percentage buffered downside
Underlying index:	Euro Stoxx 50
Amount:	$695,000
Maturity:	Dec. 2, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless final index level is less than threshold level, in which case 1% loss for every 1% that index declines beyond 10%
Call:	Automatically at par plus 7.5% per year if index closes at or above initial level on Dec. 2, 2020, Dec. 2, 2021 or Nov. 25, 2022
Initial level:	3,705.55
Threshold level:	3,334.995, or 90% of initial level
Pricing date:	Nov. 26
Settlement date:	Dec. 2
Agent:	Wells Fargo Securities, LLC
Fees:	2.825%
Cusip:	13605WTL5

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