加拿大帝国商业银行美股招股说明书(2025-07-17版)

These Trigger Autocallable Contingent Yield Notes (the ‘‘Notes’’) are senior unsecured debt securities issued by Canadian Imperial Bank of Commerce (“CIBC”) withreturns linked to the Least Performing of the S&P 500®Index, the Russell 2000®Index, and the Nasdaq-100 Index®“Underlyings”). The Notes will rank equally with all of our other unsecured and unsubordinated debt obligations. CIBC will pay a quarterly Contingent Coupon if the Closing coupon will be paid for the quarter. CIBC will automatically call the Notes if the Closing Level of each Underlying on any quarterly Call Observation Date, commencing onJanuary 15, 2026, is equal to or greater than its Initial Level. If the Notes are called, CIBC will pay you the principal amount of your Notes plus the Contingent Coupon forthe applicable quarter, and no further amounts will be owed to you under the Notes. The Underlying with the lowest Underlying Return is the “Least Performing Underlying.”If the Notes are not called prior to maturity and the Final Level of the Least Performing Underlying is equal to or greater than its Downside Threshold, CIBC will pay you acash payment at maturity equal to the principal amount of your Notes plus the final Contingent Coupon. If the Final Level of the Least Performing Underlying is less than itsDownside Threshold, CIBC will pay you less than the full principal amount, if anything, resulting in a loss on your initial investment that is proportionate to the negative performance of the Least Performing Underlying over the term of the Notes, and you may lose up to 100% of your principal amount. Investing in the Notes involves significant risks. CIBC may not pay any Contingent Coupons on the Notes. You may lose some or all of your principal amount.You will be exposed to the market risk of each Underlying on each Coupon Determination Date and any decline in the level of one Underlying may negatively Contingent Coupon:CIBC will pay a quarterly Contingent Coupon payment if the Closing Level of eachKey DatesTrade DateJuly 15, 2025affect your return and will not be offset or mitigated by a lesser decline or any increase in the level of any other Underlying. Generally, the higher theContingent Coupon Rate on a Note, the greater the risk of loss on that Note. The contingent repayment of principal only applies if you hold the Notes tomaturity or automatic call. Any payments on the Notes, including any repayment of principal, are subject to the creditworthiness of CIBC. If CIBC were todefault on its payment obligations, you may not receive any amounts owed to you under the Notes and you could lose your entire investment. principal amount at maturity.Contingent Repayment of Principal Amount at Maturity:If the Notes have not been previously calledand the Final Level of the Least Performing Underlying is not less than its Downside Threshold, CIBC willpay you the principal amount per Note at maturity plus the final Contingent Coupon. If the Final Level ofthe Least Performing Underlying is less than its Downside Threshold, CIBC will pay a cash amount that islessthan the principal amount,if anything,resulting in a loss on your initial investment that isproportionate to the decline in the Closing Level of the Least Performing Underlying from the Trade DateFinal Valuation Date1July 15, 2030Maturity Date1July 18, 20301See page PS-4 for additional details THE NOTES ARE SIGNIFICANTLY RISKIER THAN CONVENTIONAL DEBT INSTRUMENTS. THE TERMS OF THE NOTES MAY NOT OBLIGATE CIBC TO REPAY THE FULL PRINCIPAL AMOUNT OF THE NOTES. THE NOTES CAN HAVE DOWNSIDE MARKET RISK SIMILAR TO THE LEAST PERFORMING UNDERLYING, WHICH CAN RESULT IN ALOSS OF SOME OR ALL OF THE PRINCIPAL AMOUNT AT MATURITY. THIS MARKET RISK IS IN ADDITION TO THE CREDIT RISK INHERENT IN PURCHASING A DEBT OBLIGATION OF CIBC. YOU SHOULD NOT PURCHASE THE NOTES IF YOU DO NOT UNDERSTAND OR ARE NOT COMFORTABLE WITH THE SIGNIFICANT RISKS INVOLVED ININVESTING IN THE NOTES. YOU SHOULD CAREFULLY CONSIDER THE RISKS DESCRIBED UNDER ‘‘KEY RISKS’’ BEGINNING ON PAGE PS- 7 AND THE MORE DETAILED ‘‘RISK FACTORS’’ BEGINNINGON PAGE S-1 OF THE ACCOMPANYING UNDERLYING SUPPLEMENT, BEGINNING ON PAGE S-1 OF THE ACCOMPANYING PROSPECTUS SUPPLEMENT AND PAGE 1 OF THEACCOMPANYING PROSPECTUS BEFORE PURCHASING ANY NOTES. EVENTS RELATING TO ANY OF THOSE RISKS, OR OTHER RISKS AND UNCERTAINTIES, COULDADVERSELY AFFECT THE MARKET VALUE OF, AND THE RETURN ON, YOUR NOTES. underlying supplement, and the terms set forth herein.Neither the U.S. Securities and Exchange Commission (the “SEC”) nor any state or provincial securities commission has approved or disapproved of the Notes ordeterminedif this pricing supplement or the accompanying underlying supplement,prospectus supplement or prospectus is truthful or complete. Anyrepresentation to the contrary is a criminal offense. page 6 of the prospectus). The Notes will not be listed on any securities exchange.The initial estimated value of the Notes on the Trade Date as determi