加拿大帝国商业银行美股招股说明书(2025-10-15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, three, four and five years after thepricing date, is at or above the Starting Value §$10.845 if called on the first Observation Date§$11.690 if called on the second Observation Date§$12.535 if called on the third Observation Date§$13.380 if called on the fourth Observation Date§$14.225 if called on the final Observation Date If not called on the first four Observation Dates, a maturity of approximately five years §If not called but the Index does not decline by more than 15.00%, a return of principal If not called, 1-to-1 downside exposure to decreases in the Index beyond a 15.00% decline, with up to 85.00% of the principal amount at risk All payments are subject to the credit risk of Canadian Imperial Bank of Commerce The notes are unsecured debt securities and are not savings accounts or insured deposits of a bank. The notes are not insured or guaranteed by theCanada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation 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 the notesand a conventional debt security, including different investment risks and certain additional costs. See “Risk Factors” and“Additional Risk Factors” beginning on page TS-6 of this term sheet and “Risk Factors” beginning on page PS-7 of productsupplement EQUITY STR-1. The initial estimated value of the notes as of the pricing date is $9.605per unit, which is less than the public offering price listedbelow.See “Summary” on the following page, “Risk Factors” beginning on page TS-6 of this term sheet and “Structuring the Notes” onpage TS-12 of this term sheet for additional information. The actual value of your notes at any time will reflect many factors and cannot bepredicted with accuracy. None of the Securities and Exchange Commission (the “SEC”), any state securities commission, or any other regulatory body has approvedor disapproved of these securities or determined if this Note Prospectus (as defined below) is truthful or complete. Any representation to thecontrary is a criminal offense. Public offering priceUnderwriting discountProceeds, before expenses, to CIBC Summary TheAutocallableStrategic Accelerated Redemption Securities®Linked to the Russell 2000®Index, due October 25, 2030 (the “notes”) are our senior unsecured debtsecurities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation or any othergovernmental 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 page 6of the prospectus).The notes will rank equally with all of our other unsecured and unsubordinated debt. Any payments due on the notes, including anyrepayment of principal, will be subject to the credit risk of CIBC.The notes will be automatically called at the applicable Call Amount if the closing level of theMarket Measure, which is the Russell 2000® Index (the “Index”), on any Observation Date is equal to or greater than the Starting Value. You will not receive any noticefrom us if the notes are automatically called. If your notes are not called but the Ending Value is greater than or equal to the Threshold Value, you will receive theprincipal amount of your notes. If your notes are not called and the Ending Value is less than the Threshold Value, you will lose a portion, which could be significant, ofthe 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 Call Premiums and the Call Amounts) are based on our internal funding rate, which is the rate we would pay to borrowfunds through the issuance of market-linked notes, and the economic terms of certain related hedging arrangements. Our internal funding rate is typically lower than therate we would pay when we issue conventional fixed rate debt securities. This difference in funding rate, as well as the underwriting discount and the hedging-relatedcharge and certain service fee described below, reduced the economic terms of the notes to you and the initial estimated value of the notes on the pricing date. Due tothese factors, the public offering price you pay to purchase the notes is greater than the initial estimated value of the notes. Terms of the NotesPayment DeterminationOn the cover page of this term sheet, we have provided the initial estimated value for the notes. This initial estimated value was determined based on our p