New Issue: CIBC sells $1.02 million market-linked notes with contingent fixed return on Meta

By Kiku Steinfeld

Chicago, April 12 – Canadian Imperial Bank of Commerce priced $1.02 million of 0% market-linked securities with contingent fixed return and contingent downside due July 29, 2024 linked to Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than or equal to 60% of the initial share price, the payout at maturity will be par plus 10%.

If the stock price decreases by more than 40%, investors will be exposed to all losses from the stock’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 stock:	Meta Platforms, Inc.
Amount:	$1,024,000
Maturity:	July 29, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is greater than or equal to threshold level, par plus 10%; if stock decreases by more than 40%, 1% loss for every 1% decline of stock
Initial level:	$310.62
Threshold level:	$186.372; 60% of initial level
Pricing date:	July 17, 2023
Settlement date:	July 20, 2023
Agent:	Wells Fargo Securities, LLC
Fees:	2.29%
Cusip:	13607XKL0

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