CIBC to price notes on Raymond James equity securities selections

By Sarah Lizee

Olympia, Wash., Nov. 21 – Canadian Imperial Bank of Commerce plans to price notes linked to Raymond James equity securities selections due March 24, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are linked to an equally weighted basket of 24 common equity securities selected by Raymond James & Associates, Inc. The reference shares are Analog Devices, Inc., Aflac Inc., Alaska Air Group, Inc., Allstate Corp., Avnet, Inc., Best Buy Co., Inc., Comcast Corp., Cisco Systems, Inc., CubeSmart, LP, CVS Health Corp., Brinker International, Inc., Home Depot, Inc., Johnson & Johnson, M.D.C. Holdings, Inc., Medtronic plc, Marathon Petroleum Corp., NexPoint Residential Trust, Inc., Polaris Industries Inc., Qualcomm Inc., Republic Services, Inc., Skyworks Solutions Inc., AT&T Inc., Target Corp. and Union Pacific Corp.

Interest is payable quarterly. The amount of interest to be paid will depend on the total dividends paid on the reference stocks during the preceding quarter.

The payout at maturity will be par of $1,000 times 98.6% times the basket level percentage. Because of the 98.6% participation rate, investors will receive less than par if the basket does not gain by at least 1.42%.

CIBC World Markets Corp. is the agent.

The notes will price on Nov. 22.

The Cusip number is 136071BF3.

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