加拿大帝国商业银行美股招股说明书(2025-09-29版)

September25, 2025October2, 2025September26, 2031 Leveraged Index Return Notes®Linked to the DowJones Industrial Average® §Maturity of approximately six years§101.05% leveraged upside exposure to increases in the Index§Return of principal if the Index does not change or decreases by no more than 15.00%§1-to-1 downside exposure to decreases in the Index beyond a 15.00% decline, with up to 85.00% of the principalamount at risk§All payments occur at maturity and are subject to the credit risk of Canadian Imperial Bank of Commerce§No periodic interest payments§In addition to the underwriting discount set forth below, the notes include a hedging-related charge of $0.05 perunit. 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 notesare not insured or guaranteed 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 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”beginning on pageTS-6 of this term sheet and beginning on pagePS-7 of product supplement EQUITY LIRN-1. The initial estimated value of the notes as of the pricing date is $9.517 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 (1)The public offering price and the underwriting discount for an aggregate of 345,658 units purchased in a single transaction of300,000 units or more by an individual investor are $9.95 per unit and $0.20 per unit, respectively. See “Supplement to the Plan ofDistribution” below. The notes: BofA SecuritiesSeptember25, 2025 Summary The Leveraged Index Return Notes®Linked to the Dow Jones Industrial Average®, due September26, 2031 (the “notes”) are oursenior unsecured debt securities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation, the U.S.Federal Deposit Insurance Corporation or any other governmental agency of the United States, Canada or any other jurisdiction orsecured by collateral. The notes are not bail-inable debt securities (as defined on page6 of the prospectus).The notes will rankequally with all of our other unsecured and unsubordinated debt. Any payments due on the notes, including any repayment ofprincipal, will be subject to the credit risk of CIBC.The notes provide you a leveraged return, if the Ending Value of the MarketMeasure, which is the Dow Jones Industrial Average®(the “Index”), is greater than the Starting Value. If the Ending Value is equal to orless than the Starting Value but greater than or equal to the Threshold Value, you will receive the principal amount of your notes. If theEnding Value is less than the Threshold Value, you will lose a portion, which could be significant, of the principal amount of your notes.Any payments on the notes will be calculated based on the $10 principal amount per unit and will depend on the performance of theIndex, subject to our credit risk. See “Terms of the Notes” below. The economic terms of the notes (including the Participation Rate) 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. Ourinternal funding rate is typically lower than the rate we would pay when we issue conventional fixed rate debt securities. This differencein funding rate, as well as the underwriting discount and the hedging-related charge and certain service fee described below, reducedthe economic terms of the notes to you and the initial estimated value of the notes on the pricing date. Due to these factors, the publicoffering price you pay to purchase the notes is greater than the initial 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 wasdetermined based on our pricing models, and was based on our internal funding rate on the pricing date, market conditions and otherreleva