New Issue: CIBC prices $15.2 million market-linked one look notes with enhanced buffer on WTI

By William Gullotti

Buffalo, N.Y., Jan. 30 – Canadian Imperial Bank of Commerce priced $15.2 million of 0% market-linked one look notes with enhanced buffer due Feb. 21, 2025 linked to the WTI Crude Oil Futures Contract, according to a 424B2 filing with the Securities and Exchange Commission.

If the commodity finishes at or above its threshold level, 87.6% of initial price, the payout at maturity will be par plus 16%.

Otherwise, investors will lose 1% for every 1% decline beyond 12.4%.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked one look notes with enhanced buffer
Underlying commodity:	WTI Crude Oil Futures Contract
Amount:	$15,199,940
Maturity:	Feb. 21, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 16% unless commodity finishes below its threshold level, in which case 1% loss for each 1% decline beyond 12.4%
Initial price:	$72.67
Threshold level:	$63.66; 87.6% of initial price
Pricing date:	Jan. 25
Settlement date:	Feb. 1
Underwriter:	BofA Securities, Inc.
Fees:	1.5%
Cusip:	13608J313

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