New Issue: CIBC sells $11.22 million autocallable market-linked notes tied to index basket

Chicago, Jan. 4 – Canadian Imperial Bank of Commerce priced $11.22 of 0% autocallable market-linked step-up notes due Dec. 21, 2023 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.

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

The notes will be called at par plus an annual call premium of 10.6% if the basket closes at or above its initial level on an annual call observation date.

If the basket finishes at or above the step-up value – 150% of the initial level – the payout at maturity will be par of $10 plus the basket gain.

If the index is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 50%.

Investors will receive par if the basket declines by up to 15% and will lose 1% for each 1% decline of the basket beyond 15%.

BofA Merrill Lynch 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), and Hang Seng index (5% weight)
Amount:	$11,223,620.00
Maturity:	Dec. 21, 2023
Coupon:	0%
Price:	Par of $10
Call:	At par plus a call premium of 10.6% per year if the index closes at or above initial level on Dec. 27, 2019, Dec. 17, 2020, Dec. 16, 2021 or Dec. 15, 2022
Payout at maturity:	If above 150% of initial level, return of basket; if positive and below 150% of initial level par plus 50%, if the final index falls by up to 15%, par; 1% loss for each 1% decline beyond 15%
Initial levels:	3,000.06 for Euro Stoxx 50, 6,711.93 for FTSE 100 index, 20,392.58 for Nikkei Stock Average, 8,414.48 for Swiss Market, 5,505.822 for S&P/ASX 200 and 25,623.53 for Hang Seng
Pricing date:	Dec. 20
Settlement date:	Dec. 28
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	13606M276

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