New Issue: CIBC sells $253,000 notes tied to 14 Raymond James Healthcare top picks

By Marisa Wong

Morgantown, W.Va., June 26 – Canadian Imperial Bank of Commerce priced $253,000 of 0% notes linked to Raymond James Healthcare Top Selections due June 30, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are linked to an equally weighted basket of 14 common equity securities of entities in the healthcare industry selected by Raymond James & Associates, Inc. The reference shares are Becton, Dickinson and Co., Boston Scientific Corp., Gilead Sciences, Inc., Haemonetics Corp., HCA Healthcare, Inc., Intercept Pharmaceuticals, Inc., ICU Medical, Inc., Intuitive Surgical, Inc., Medtronic plc, Omega Healthcare Investors, Inc., Quidel Corp., Stryker Corp., Teleflex Inc. and UnitedHealth Group Inc. Each reference stock has a 7.1429% weight.

The payout at maturity will be par of $1,000 times 97.8% times the basket level percentage. The basket level percentage is the sum of the weighted reference share performances, which includes dividends paid on the reference shares over the term of the notes. Because of the 97.8% participation rate, investors will receive less than par if the basket does not gain by at least 2.25%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Notes linked to Raymond James Healthcare Top Selections
Underlying basket:	Becton, Dickinson and Co. (Symbol: BDX), Boston Scientific Corp. (Symbol: BSX), Gilead Sciences, Inc. (Symbol: GILD), Haemonetics Corp. (Symbol: HAE), HCA Healthcare, Inc. (Symbol: HCA), Intercept Pharmaceuticals, Inc. (Symbol: ICPT), ICU Medical, Inc. (Symbol: ICUI), Intuitive Surgical, Inc. (Symbol: ISRG), Medtronic plc (Symbol: MDT), Omega Healthcare Investors, Inc. (Symbol: OHI), Quidel Corp. (Symbol: QDEL), Stryker Corp. (Symbol: SYK), Teleflex Inc. (Symbol: TFX”) and UnitedHealth Group Inc. (Symbol: UNH); each with 7.1429% weight
Amount:	$253,000
Maturity:	June 30, 2020
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par times 97.8% times the basket level percentage (sum of the weighted reference share performances)
Initial price:	$247.30 for Becton, Dickinson, $41.69 for Boston Scientific, $69.38 for Gilead Sciences, $117.45 for Haemonetics, $128.23 for HCA Healthcare, $81.39 for Intercept Pharmaceuticals, $248.87 for ICU Medical, $527.23 for Intuitive Surgical, $99.38 for Medtronic, $38.05 for Omega, $59.27 for Quidel, $202.72 for Stryker, $334.73 for Teleflex and $252.28 for UnitedHealth
Final price:	For each stock, sum of closing share price on June 26, 2020 and dividend amount equal to 100% of gross cash distributions for that stock
Pricing date:	June 21
Settlement date:	June 26
Agent:	CIBC World Markets Corp.
Fees:	1.25%
Cusip:	136071AJ6

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