PREHEAT oven to 350°F. Cover bottom of 9-inch springform pan with parchment paper. Combine crumbs and butter; press firmly onto bottom of prepared pan.

PLACE caramels and milk in saucepan; cook on low heat until caramels are completely melted and mixture is well blended, stirring frequently. Stir in pecans. Pour over crust.

BEAT cream cheese, sugar and vanilla with electric mixer on medium speed until well blended. Add eggs, 1 at a time, mixing on low speed after each addition just until blended. Pour over caramel mixture.

BAKE 45 to 50 min. or until centre is almost set. Run knife or metal spatula around rim of pan to loosen cake; cool before removing rim of pan. Refrigerate 4 hours or overnight. Garnish with additional caramel sauce and pecans, if desired. Store leftover cheesecake in refrigerator.