New Issue: CIBC prices $5.63 million autocallable market-linked step-up notes on index basket

By Wendy Van Sickle

Columbus, Ohio, March 29 – Canadian Imperial Bank of Commerce priced $5.63 million of 0% autocallable market-linked step-up notes due March 28, 2025 linked to a basket of weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the FTSE China 50 index with a 5% weight.

The notes will be called at par plus an 11.6% annualized call premium if the basket closes at or above its initial level on any annual observation date.

If the basket finishes above the step-up value, 130% of the initial value, the payout at maturity will be par plus the basket return.

If the basket finishes flat or increases up to the step-up value, the payout will be par plus the step-up payment of 30%.

Investors will be exposed to any decline of the basket from its initial level.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Autocallable market-linked step-up notes
Underlying basket:	Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight), FTSE China 50 index (5% weight)
Amount:	$5,625,910
Maturity:	March 28, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If basket finishes above step-up value, par plus basket return; if basket finishes flat or increases up to step-up value, par plus 30%; full exposure to any decline
Call:	Automatically at par plus 11.6% call premium per year if the basket closes at or above its initial level on any annual observation date
Initial levels:	3,863.39 for Stoxx, 7,467.38 for FTSE 100, 28,110.39 for Nikkei, 12,131.45 for Swiss Market, 7,387.065 for S&P/ASX, 14,838.43 for FTSE China
Step-up value:	130% of initial value
Pricing date:	March 24
Settlement date:	March 31
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	13607V127

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