New Issue: CIBC prices $8.34 million Accelerated Return Notes on SPDR Gold Shares

By William Gullotti

Buffalo, N.Y., April 19 – Canadian Imperial Bank of Commerce priced $8.34 million of 0% Accelerated Return Notes due June 28, 2024 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, capped at par plus 20.67%.

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 fund:	SPDR Gold Shares
Amount:	$8,336,540
Maturity:	June 28, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any ETF gain, capped at par plus 20.67%; otherwise, full exposure to any ETF decline
Initial level:	$189.72
Pricing date:	April 13
Settlement date:	April 20
Agent:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	13607Y659

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