New Issue: CIBC prices $520,000 notes linked to 12 stocks picked by Raymond James

By Angela McDaniels

Tacoma, Wash., Aug. 27 – Canadian Imperial Bank of Commerce priced $520,000 of 0% notes due Feb. 26, 2021 linked to a basket of 12 stocks selected by Raymond James & Associates, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of Evoqua Water Technologies Corp., Atlantica Yield plc, Bloom Energy Corp., Covanta Holding Corp., Itron, Inc., Kansas City Southern, Pattern Energy Group, Inc., Rayonier Inc., TPI Composites, Inc., Union Pacific Corp., Weyerhaeuser Co. and Xylem, Inc. Each stock has a weight of about 8.3333%.

For each stock, its final price will equal the sum of its closing price on the final valuation date plus its dividend amount, which will equal 100% of the gross cash distributions (including ordinary and extraordinary dividends), after withholding tax, if any, per share of the stock declared by its issuer where the date that the stock has begun trading ex-dividend on its primary U.S. securities exchange for the relevant distribution occurs during the life of the notes.

The payout at maturity will be par plus 97.35% of the basket return. The notes are not principal protected, so investors will receive less than par if the basket return is negative.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Notes
Underlying stocks:	Evoqua Water Technologies Corp., Atlantica Yield plc, Bloom Energy Corp., Covanta Holding Corp., Itron, Inc., Kansas City Southern, Pattern Energy Group, Inc., Rayonier Inc., TPI Composites, Inc., Union Pacific Corp., Weyerhaeuser Co. and Xylem, Inc.; equally weighted
Amount:	$520,000
Maturity:	Feb. 26, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 97.35% of basket return
Final share prices:	For each stock, final price equals sum of closing price on final valuation date plus dividend amount, which equals 100% of gross cash distributions (including ordinary and extraordinary dividends), after withholding tax, if any, per share of stock declared by its issuer where date that stock has begun trading ex-dividend on its primary U.S. securities exchange for relevant distribution occurs during life of notes
Pricing date:	Aug. 23
Settlement date:	Aug. 28
Underwriter:	CIBC World Markets Corp.
Fees:	1.5%
Cusip:	136071AU1

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