加拿大帝国商业银行美股招股说明书(2025-10-29版)

PRICING SUPPLEMENT dated, 2025(To Product Supplement No. WF-1 dated September 5, 2023, Equity Index Underlying Supplement datedSeptember 5, 2023, Prospectus Supplement dated September 5, 2023 and Prospectus dated September 5, 2023) Canadian Imperial Bank of Commerce Senior Global Medium-Term NotesMarket Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside Principal at Risk SecuritiesLinked to the Nasdaq-100 Index® due November 29, 2029 Unlike ordinary debt securities, the securities do not pay interest, do not repay a fixed amount of principal at maturity and are subject to potential automatic callupon the terms described below. Whether the securities are automatically called on the relevant Call Observation Date for a fixed Call Premium or, if notautomatically called, the Maturity Payment Amount, will depend, in each case, on the Closing Level of the Index Automatic Call.If the Closing Level of the Index on any Call Observation Date is greater than or equal to the Starting Level, the securities will be automaticallycalled for the face amount plus the Call Premium applicable to that Call Observation Date. The Call Premium applicable to each Call Observation Date will be apercentage of the face amount that increases for each Call Observation Date based on a simple (non-compounding) return of approximately at least 8.15% perannum (to be determined on the Pricing Date)Call Observation DateCall Premium* November 30, 2026November 29, 2027November 28, 2028November 26, 2029 (the “Final Calculation Day”)* The actual Call Premium applicable to each Call Observation Date will be determined on the Pricing Date At least 8.15% of the face amountAt least 16.30% of the face amountAt least 24.45% of the face amountAt least 32.60% of the face amount ¨Maturity Payment Amount.If the securities are not automatically called, you will receive a Maturity Payment Amount that could be equal to or less than the faceamount depending on the Closing Level of the Index on the Final Calculation Day as follows: your securities¨If the Closing Level of the Index on the Final Calculation Day is less than the Starting Level by more than 10%, you will receive less than the face amountand have 1-to-1 downside exposure to the decrease in the level of the Index in excess of 10%Investors may lose up to 90.00% of the face amount Any positive return on the securities will be limited to the applicable Call Premium, even if the Closing Level of the Index on the applicable Call Observation Datesignificantly exceeds the Starting Level. You will not participate in any appreciation of the Index beyond the applicable fixed Call PremiumAll payments on the securities are subject to the credit risk of Canadian Imperial Bank of Commerce and you will have no ability to pursue any securities includedin the Index for payment; if Canadian Imperial Bank of Commerce defaults on its obligations, you could lose all or some of your investmentNo periodic interest payments or dividendsNo exchange listing; designed to be held to maturity or earlier automatic call The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “SelectedRisk Considerations” beginning on page PRS-8 herein and “Risk Factors” beginning on page S-1 of the accompanying underlying supplement, page S-1 of theprospectus supplement and page 1 of the prospectus. The securities are unsecured obligations of Canadian Imperial Bank of Commerce and all payments on the securities are subject to the credit risk of CanadianImperial Bank of Commerce. The securities will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit InsuranceCorporation or any other government agency or instrumentality of Canada, the United States or any other jurisdiction. The securities are not bail-inable debtsecurities (as defined on page 6 of the prospectus). Neither the Securities and Exchange Commission (the “SEC”) nor any state or provincial securities commission or other regulatory body has approved ordisapproved of these securities or passed upon the accuracy or adequacy of this pricing supplement or the accompanying product supplement, underlyingsupplement, prospectus supplement and prospectus. Any representation to the contrary is a criminal offense. (1)The agent, Wells Fargo Securities, LLC (“Wells Fargo Securities”), will receive an underwriting discount of up to $28.25 per security. The agent may resell the securities to other securitiesdealers at the original offering price less a concession not in excess of $20.00 per security. Such securities dealers may include Wells Fargo Advisors (“WFA”) (the trade name of the retailbrokerage business of Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, each an affiliate of Wells Fargo Securities). In addition to the selling concessionallowed to WFA, the agent may pay $0.75 per