CIBC to price contingent coupon autocallables on Junior Gold Miners ETF

By Marisa Wong

Morgantown, W.Va., Aug. 29 – Canadian Imperial Bank of Commerce plans to price contingent coupon autocallable notes due Sept. 7, 2021 linked to the VanEck Vectors Junior Gold Miners exchange-traded fund, according to a 424B3 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 8.4% if the fund closes at or above its 65% coupon barrier on the observation date for that period.

The notes will be called at par if the fund closes at or above its initial level on any valuation date other than the final date.

The payout at maturity will be par plus the contingent coupon unless the fund finishes below its 65% barrier level, in which case investors will be fully exposed to any losses.

CIBC World Markets Corp. is the agent.

The notes will price on Aug. 30.

The Cusip number is 13605WFK2.

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