New Issue: CIBC prices $465,000 barrier digital notes on three stocks

By Wendy Van Sickle

Columbus, Ohio, July 20 – Canadian Imperial Bank of Commerce priced $465,000 of 0% barrier digital notes July 23, 2021 linked to the lowest performing of the common stocks of Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par 20% unless any underlying stock finishes below its 70% barrier level, in which case investors will be fully exposed to the decline of the least performing stock.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Barrier digital notes
Underlying stocks:	Bank of America Corp., Citigroup Inc. and Wells Fargo & Co.
Amount:	$465,000
Maturity:	July 23, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 20% if each stock finishes at or above barrier level; otherwise, full exposure to loss of least performing stock
Initial levels:	$24.19 for BofA, $52.20 for Citi and $25.41 for Wells
Barrier levels:	$16.93 for BofA, $36.54 for Citi and $17.79 for Wells, 70% of initial levels
Pricing date:	July 13
Settlement date:	July 16
Agents:	CIBC World Markets Corp.
Fees:	3.5%
Cusip:	13605WZT1

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