New Issue: CIBC prices $30 million floating-to-fixed rate notes on two-year CMS rate

Chicago, March 29 – Canadian Imperial Bank of Commerce priced $30 million of floating-to-fixed rate notes due March 23, 2026 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 1.2% for the first year. Interest will be payable quarterly and the rate will reset quarterly. Starting in year two, the interest rate will be 1.2%.

CIBC World Markets Corp. is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Floating-to-fixed rate notes
Underlying index:	Two-year Constant Maturity Swap rate
Amount:	$30,000,000
Maturity:	March 23, 2026
Coupon:	Two-year CMS rate, subject to a floor of 1.2% for first year, payable quarterly; converts to fixed rate of 1.2% in second year and thereafter
Price:	Par
Payout at maturity:	Par
Pricing date:	March 19
Settlement date:	March 23
Agent:	CIBC World Markets Corp.
Fees:	0.45%
Cusip:	13605W2F7

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