加拿大帝国商业银行美股招股说明书(2025-09-15版)

Autocallable Strategic Accelerated RedemptionSecurities®Linked to the Russell 2000®Index §Automatically callable if the closing level of the Index on any Observation Date, occurring approximately one, two and three years after thepricing date, is at or above the Starting Value §$11.111 if called on the first Observation Date§$12.222 if called on the second Observation Date§$13.333 if called on the final Observation Date If not called on the first two Observation Dates, a maturity of approximately three years If not called, 1-to-1 downside exposure to decreases in the Index, with up to 100.00% of the principal amount at risk All payments are subject to the credit risk of Canadian Imperial Bank of Commerce In addition to the underwriting discount set forth below, the notes include a hedging-related charge of $0.05 per unit. See “Structuring the Notes”Limited secondary market liquidity, with no exchange listing § §The notes are unsecured debt securities and are not savings accounts or insured deposits of a bank. The notes are not insured or guaranteed bythe Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other governmental agency of the UnitedStates, Canada, or any other jurisdiction The notes are being issued by Canadian Imperial Bank of Commerce (“CIBC”). There are important differences between thenotes and a conventional debt security, including different investment risks and certain additional costs. See “Risk Factors”and “Additional Risk Factors” beginning on pageTS-6 of this term sheet and “Risk Factors” beginning on pagePS-7 ofproduct supplement EQUITY STR-1. The initial estimated value of the notes as of the pricing date is $9.61 per unit, which is less than the public offering pricelisted below.See “Summary” on the following page, “Risk Factors” beginning on pageTS-6 of this term sheet and “Structuring theNotes” on pageTS-12 of this term sheet for additional information. The actual value of your notes at any time will reflect many factorsand cannot be predicted with accuracy. None of the Securities and Exchange Commission (the “SEC”), any state securities commission, or any other regulatory body hasapproved or disapproved of these securities or determined if this Note Prospectus (as defined below) is truthful or complete. Anyrepresentation to the contrary is a criminal offense. Public offering priceUnderwriting discountProceeds, before expenses, to CIBC Summary The Autocallable Strategic Accelerated Redemption Securities®Linked to the Russell 2000®Index, due September29, 2028 (the “notes”) are our seniorunsecured debt securities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit InsuranceCorporation or any other governmental agency of the United States, Canada or any other jurisdiction or secured by collateral. The notes are not bail-inable debt securities (as defined on page6 of the prospectus).The notes will rank equally with all of our other unsecured and unsubordinateddebt. Any payments due on the notes, including any repayment of principal, will be subject to the credit risk of CIBC.The notes will beautomatically called at the applicable Call Amount if the closing level of the Market Measure, which is the Russell 2000®Index (the “Index”), on anyObservation Date is equal to or greater than the Starting Value. You will not receive any notice from us if the notes are automatically called. If your notesare not called, you will lose all or a portion of the principal amount of your notes. Any payments on the notes will be calculated based on the $10 principalamount per unit and will depend on the performance of the Index, subject to our credit risk. See “Terms of the Notes” below. The economic terms of the notes (including the Call Premiums and the Call Amounts) are based on our internal funding rate, which is the rate we wouldpay to borrow funds through the issuance of market-linked notes, and the economic terms of certain related hedging arrangements. Our internal fundingrate is typically lower than the rate we would pay when we issue conventional fixed rate debt securities. This difference in funding rate, as well as theunderwriting discount and the hedging-related charge and certain service fee described below, reduced the economic terms of the notes to you and theinitial estimated value of the notes on the pricing date. Due to these factors, the public offering price you pay to purchase the notes is greater than theinitial estimated value of the notes. On the cover pageof this term sheet, we have provided the initial estimated value for the notes. This initial estimated value was determined based on ourpricing models, and was based on our internal funding rate on the pricing date, market conditions and other relevant factors existing at that time, and ourassumptions about market parameters. For more information about the initial estimated value and the structuring of the notes, s