New Issue: CIBC sells $2.25 million market-linked notes with contingent fixed return on S&P 500

By Wendy Van Sickle

Columbus, Ohio, May 4 – Canadian Imperial Bank of Commerce priced $2.25 million of 0% market-linked securities with contingent fixed return and contingent downside due Nov. 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index price increases or stays the same, the payout at maturity will be par plus 18%.

If the index price decreases up to 15%, the payout at maturity will be par. Otherwise, investors will be exposed to all losses from the index’s initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with contingent fixed return and contingent downside
Underlying index:	S&P 500 index
Amount:	$2,251,000
Maturity:	Nov. 4, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index price increases or stays the same, par plus 18%; if index price decreases by up to 15%, par; otherwise, 1% loss for every 1% decline of index
Initial level:	4,169.48
Threshold level:	3,544.058; 85% of initial level
Pricing date:	April 28
Settlement date:	May 3
Agent:	Wells Fargo Securities, LLC
Fees:	2.32%
Cusip:	13607XH42

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