New Issue: CIBC sells $1.82 million Accelerated Return Notes on basket of technology stocks

By Kiku Steinfeld

Chicago, May 19 – Canadian Imperial Bank of Commerce priced $1.82 million of 0% Accelerated Return Notes due July 30, 2021 linked to a basket of technology sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of Microsoft Corp. with a 33.33% weight, IHS Markit Ltd. with a 33.33% weight and Gartner, Inc. with a 33.34% weight.

The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 21.3%. Investors will be exposed to any basket decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying stocks:	Microsoft Corp. with a 33.33% weight, IHS Markit Ltd. with a 33.33% weight and Gartner, Inc. with a 33.34% weight
Amount:	$1,821,150
Maturity:	July 30, 2021
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any basket gain, capped at 21.3%; exposure to any basket decline
Initial share prices:	$180.53 for Microsoft, $65.68 for IHS Markit, $110.64 for Gartner
Pricing date:	May 14
Settlement date:	May 21
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	13607H854

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