加拿大帝国商业银行美股招股说明书(2025-08-20版)

The notes do not bear interest.The amount that you will be paid on your notes on the stated maturity date (August 20, 2027, subject to adjustment) isbased on the performance of a weighted basket comprised of the EURO STOXX 50®Index (38.00% weighting), the TOPIX®Index (26.00% weighting),the FTSE®100 Index (17.00% weighting), the Swiss Market Index (11.00% weighting) and the S&P/ASX 200 Index (8.00% weighting) (the “basket”) asmeasured from the trade date (August 18, 2025) to and including the determination date (August 18, 2027, subject to adjustment).The initial basketlevel is 100 and the final basket level will equal thesumof the products, as calculated for each basket underlier, of: (i) the final basket underlier leveldivided by the initial basket underlier level (set on the trade date and equal to the closing level of the basket underlier on the trade date) multiplied by (ii)the applicable initial weighted value for the basket underlier. If the final basket level on the determination date isgreater thanorequal tothe initial basketlevel, the return on your notes will be positive and you will receive, for each $1,000 principal amount of your notes, the greater of (i) the thresholdsettlement amount of $1,231.00 for each $1,000 principal amount of your notes and (ii) thesumof $1,000plustheproductof $1,000timesthe basketreturn.If the final basket level declines from the initial basket level, the return on your notes will be negative.You could lose your entireinvestment in the notes. To determine your payment at maturity, we will calculate the basket return, which is the percentage increase or decrease in the final basket level fromthe initial basket level. On the stated maturity date, for each $1,000 principal amount of your notes, you will receive an amount in cash equal to: ●if the basket return ispositiveorzero(i.e. the final basket level isgreater than or equal tothe initial basket level), the greater of (i) thethreshold settlement amount and (ii) thesumof (a) $1,000plus(b) theproductof (1) $1,000times(2) the basket return; or●if the basket return isnegative(i.e. the final basket levelis less thanthe initial basket level), thesumof (i) $1,000plus(ii) theproductof (a)$1,000times(b) the basket return.This amount will be less than $1,000 and may be zero. Declines in one basket underlier may offset increases in the other basket underliers.Due to the unequal weighting of each basket underlier,the performances of the EURO STOXX 50®Index, the TOPIX®Index and the FTSE®100 Index will have a significantly larger impact on yourreturn on the notes than the performance of the Swiss Market Index or the S&P/ASX 200 Index. The notes have complex features and investing in the notes involves risks not associated with an investment in conventional debt securities.See “Additional Risk Factors Specific to Your Notes” beginning on page PRS-13 of this Pricing Supplement and “Risk Factors” beginning onpage S-1 of the accompanying Underlying Supplement. Our estimated value of the notes on the trade date, based on our internal pricing models, is $977.30 per note. The estimated value is less than the initialissue price of the notes. See “Additional Information Regarding Estimated Value of the Notes” in this Pricing Supplement. The notes are unsecured obligations of Canadian Imperial Bank of Commerce and all payments on the notes are subject to the credit risk ofCanadian Imperial Bank of Commerce. The notes will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S.Federal Deposit Insurance Corporation or any other government agency or instrumentality of Canada, the United States or any otherjurisdiction. The notes are not bail-inable debt securities (as defined on page 6 of the Prospectus). The notes will not be listed on any U.S.securities exchange. Neither the United States Securities and Exchange Commission (the “SEC”) nor any state or provincial securities commission has approvedor disapproved of these securities or determined if this Pricing Supplement or the accompanying Underlying Supplement, ProspectusSupplement or Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. The issue price, agent’s commission and net proceeds listed above relate to the notes we will sell initially. We may decide to sell additional notes afterthe trade date, at issue prices and with agent’s commissions and net proceeds that differ from the amounts set forth above. The return (whether positiveor negative) on your investment will depend in part on the issue price you pay for your notes. The Bank may use this Pricing Supplement in the initial sale of the notes. Goldman Sachs & Co. LLC (“GS&Co.”) or any of its affiliates oragents may use this Pricing Supplement in a market-making transaction in a note after its initial sale. Unless we, GS&Co. or any of our or itsrespective affiliates or agents informs the purchaser otherwise in the confirmation of sale, this Pricing Supple