加拿大帝国商业银行美股招股说明书(2025-07-21版)

Canadian Imperial Bank of CommerceSenior Global Medium-Term Notes of PayPal Holdings, Inc. and the Class A Common Stock of Roku, Inc. due October 26, 2026 The Barrier Digital Notes (the “notes”) provide a Digital Return of at least 23.45% (to be determined on the Trade Date) if the price of the WorstPerforming Reference Stock does not decrease by more than 50%. If the price of the Worst Performing Reference Stock decreases by more than 50%, with up to 100% of the principal at risk.For each $1,000 in principal amount of the notes, the Payment at Maturity will be a cash amount depending on the Final Price of the Worst Performing Reference Stock and will be calculated as follows:If the Final Price of the Worst Performing Reference Stock is greater than or equal to its Barrier Price (50% of its Initial Price): $1,000 + ($1,000 × Digital Return)If the Final Price of the Worst Performing Reference Stock is less than its Barrier Price: The notes do not pay interest.The notes will not be listed on any securities exchange.The notes will be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof.The notes are unsecured obligations of the Bank and any payment on the notes is subject to the credit risk of the Bank. The notes will not constitutedeposits insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation, or any other government agency orinstrumentality of Canada, the United States or any other jurisdiction. The notes are not bail-inable debt securities (as defined on page 6 of the Price to Public (Initial Issue Price)(1)Underwriting Discount(1)(2)Proceeds to IssuerPer Note$1,000.00Up to$2.50At least$997.50Total$$ concessions, the price to public for investors purchasing the notes in these accounts may be between $997.50 and $1,000.00 per note.(2)CIBC World Markets Corp. (“CIBCWM”), acting as agent for the Bank, will receive a commission of up to $2.50 (0.25%) per $1,000 principalamount of the notes. CIBCWM may use a portion or all of its commission to allow selling concessions to other dealers in connection with the The initial estimated value of the notes on the Trade Date as determined by the Bank is expected to be between $933.00 and $953.00 per $1,000 principalamount of the notes, which is expected to be less than the price to public. See “The Bank’s Estimated Value of the Notes” in this pricing supplement. dated September 5, 2023 (the “prospectus supplement”) and the Stock-Linked Underlying Supplement dated September 5, 2023 (the“underlying supplement”). Information in this pricing supplement supersedes information in the underlying supplement, the prospectus meanings set forth in the underlying supplement, the prospectus supplement or the prospectus.You should rely only on the information contained in or incorporated by reference in this pricing supplement and the accompanying underlying prepared. No one is authorized to give information other than that contained in this pricing supplement and the accompanying underlyingsupplement, the prospectus supplement and the prospectus, and in the documents referred to in those documents and which are made available information. If anyone provides you with different or additional information, you should not rely on it. in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. References to “CIBC,” “the Issuer,” “the Bank,” “we,” “us” and “our” in this pricing supplement are references to Canadian Imperial Bank ofCommerce and not to any of our subsidiaries, unless we state otherwise or the context otherwise requires.You may access the underlying supplement, the prospectus supplement and the prospectus on the SEC website www.sec.gov as follows (or ifsuch address has changed, by reviewing our filing for the relevant date on the SEC website): https://www.sec.gov/Archives/edgar/data/1045520/000110465923098174/tm2322483d90_424b5.htmProspectus supplement dated September 5, 2023:https://www.sec.gov/Archives/edgar/data/1045520/000110465923098166/tm2322483d94_424b5.htmProspectus dated September 5, 2023: PS-1 supplement and the prospectus. See “Additional Terms of the Notes” in this pricing supplement.Canadian Imperial Bank of Commerce Trade Date:Expected to be July 21, 2025 predict the Closing Price of any Reference Stock at any time during the term of the notes, including the Final Valuation Date. The assumptionswe have made in connection with the illustrations set forth below may not reflect actual events. You should not take this illustration or these examples as an indication or assurance of the expected performance of any Reference Stock or return on the notes. The numbers appearing inthe table below and following examples have been rounded for ease of analysis.The table below illustrates the Payment at Maturity on a $1,000 investment in the notes for a hypothetical range of Percentage Changes of