New Issue: CIBC sells $10.81 million Accelerated Return Notes linked to SPDR Gold

By Wendy Van Sickle

Columbus, Ohio, Dec. 30 – Canadian Imperial Bank of Commerce priced $10.81 million of 0% Accelerated Return Notes due Feb. 25, 2022 linked to SPDR Gold, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any fund gain, up to a maximum return of 17.55%. Investors will be exposed to any fund decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying fund:	SPDR Gold
Amount:	$10,811,620
Maturity:	Feb. 25, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any fund gain, capped at par plus 17.55%; full exposure to any fund decline
Initial fund level:	$175.65
Final fund level:	Average of fund’s closing levels on five trading days ending Feb. 22, 2022
Pricing date:	Dec. 23
Settlement date:	Dec. 31
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	13607V507

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