New Issue: CIBC prices $3.52 million floating-rate notes due 2025 on two-year CMS rate

By Wendy Van Sickle

Columbus, Ohio, Aug. 18 – Canadian Imperial Bank of Commerce priced $3.52 million of floating-rate notes due July 31, 2025 linked to the two-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be equal to the two-year CMS rate, subject to a floor of 0.5%. Interest will be payable quarterly.

Incapital LLC is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Floating-rate notes
Underlying index:	Two-year Constant Maturity Swap rate
Amount:	$3,522,000
Maturity:	July 31, 2025
Coupon:	Two-year CMS rate, subject to a floor of 0.5%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	July 29
Settlement date:	July 31
Agent:	Incapital LLC
Fees:	0.85%
Cusip:	13605WA68

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