New Issue: CIBC sells $15.92 million Accelerated Return Notes on SPDR Gold Shares

By Kiku Steinfeld

Chicago, Aug. 17 – Canadian Imperial Bank of Commerce priced $15.92 million of 0% Accelerated Return Notes due Sept. 24, 2021 linked to the SPDR Gold Shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum return of 20.2%. Investors will be exposed to any ETF decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying ETF:	SPDR Gold Shares
Amount:	$15,919,660
Maturity:	Sept. 24, 2021
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any ETF gain, capped at 20.2%; exposure to any ETF decline
Initial index level:	$183.76
Final index level:	Average of ETF’s closing levels on five trading days ending Sept. 21, 2021
Pricing date:	July 30
Settlement date:	Aug. 6
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	13607H797

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