加拿大帝国商业银行美股招股说明书(2025-07-15版)

Trigger Performance Leveraged Upside SecuritiesSMPrincipal at Risk SecuritiesThe Trigger PLUS are unsecured debt obligations of Canadian Imperial Bank of Commerce (“CIBC” or the “Bank”). The Trigger PLUS will pay no interest, do not guarantee the return of any principal at maturity does not change or depreciatesin value but the Final Index Value is greater than or equal to the Trigger Level, investors will receive the Stated Principal Amount of their investment. However, if the UnderlyingIndex hasdepreciatedin value so that the Final Index Value is less than the Trigger Level, investors will lose a significant portion or all of their investment, resulting in a 1.00% loss of principal for every 1.00% decline in the index value over the term of the Trigger PLUS. Under these circumstances, the Payment at Maturity will be less than 65.00% of the Stated Principal Amount and could be zero.Accordingly, youmay lose your entire investment.The Trigger PLUS are for investors who seek an equity index-based return and who are willing to risk their principal and forgo current income in exchange for the leveragedupside feature, and the limited protection against loss that applies only if the Final Index Value is greater than or equal to the Trigger Level.Investors may lose their entire initial investment in the Trigger The Trigger PLUS are not bail-inable debt securities (as defined on page 6 of the prospectus).SUMMARY TERMS Canadian Imperial Bank of Commerce Aggregate Principal Amount:$Stated Principal Amount:$1,000 per Trigger PLUS July 31, 2025Original Issue Date:August 5, 2025 (3 Business Days after the Pricing Date)Valuation Date:July 31, 2031, subject to postponement for non-Trading Days and certain Market Disruption Events as described under “Certain Terms of the Notes—ValuationDates—For Notes Where the Reference Asset Is a Single Index” in the underlying supplementAugust 5, 2031, subject to postponement as described under “Certain Terms of the Notes—Interest Payment Dates, Coupon Payment Dates, Call Payment Datesand Maturity Date” in the underlying supplement.Payment at Maturity per Trigger·If the Final Index Value is greater than the Initial Index Value:$1,000 + Leveraged Upside Payment·If the Final Index Value is less than or equal to the Initial Index Value but is greater than or equal to the Trigger Level: Leveraged Upside Payment:$1,000 × Leverage Factor × Index Percent IncreaseLeverage Factor:At least 193.50%, to be determined on the Pricing Date65.00% of the Initial Index Value.Index Percent Increase:(Final Index Value – Initial Index Value) / Initial Index ValueIndex Performance Factor:Final Index Value / Initial Index ValueInitial Index Value:The Closing Level of the Underlying Index on the Pricing Date To provide limited protection against a loss of principal in the event of a decline of the Underlying Index as of the Valuation Date but only if the Final IndexValue is greater than or equal to the Trigger Level 6 yearsHypothetical Leverage193.50% Trigger Level:65.00% of the Initial Index ValueMinimum Payment atNone. You could lose your entire initial investment in the Trigger PLUS. None Trigger FeatureAt maturity, even if the Underlying Index has declined over the term of the Trigger PLUS, you will receive your Stated PrincipalAmount but only if the Final Index Value isgreater than or equal tothe Trigger Level. Upside ScenarioThe Underlying Index increases in value, and, at maturity, the Trigger PLUS is redeemed for the Stated Principal Amount of $1,000 Par ScenarioThe Final Index Value is less than or equal to the Initial Index Value but is greater than or equal to the Trigger Level. In this case,the Trigger PLUS is redeemed for the Stated Principal Amount of $1,000.00 even though the Underlying Index has depreciated moderately.Downside ScenarioThe Final Index Value is less than the Trigger Level. In this case, the Trigger PLUS is redeemed for at least 35.00% less than the Index over the term of the Trigger PLUS. There is no minimum Payment at Maturity on the Trigger PLUS, and you could lose yourentire initial investment in the Trigger PLUS. How the Trigger PLUS WorkPayoff DiagramThe payoff diagram below illustrates the Payment at Maturity on the Trigger PLUS based on the following terms: Risk Factors An investment in the Trigger PLUS involves significant risks. This section describes the material risks relating to the Trigger PLUS. For further discussion of theseand other risks, you should read the section entitled “Risk Factors” beginning on page S-1 of the accompanying underlying supplement, page S-1 of the Risks Relating to the Structure of the Trigger PLUSThe Trigger PLUS do not pay interest or guarantee return of any principal.The terms of the Trigger PLUS differ from those of ordinary debt securities in Index Value. There is no minimum Payment at Maturity on the Trigger PLUS, and you could lose your entire initial investment in the Trigger PLUS.The amount payable on the Trigge