加拿大帝国商业银行美股招股说明书(2025-11-13版)

§Maturity of approximately two years, if not called prior to maturity §Contingent Coupon Payments (with Memory) payable on the applicable Coupon Payment Date if the Observation Value of the Worst-Performing UnderlyingStock on the applicable quarterly Coupon Observation Date is greater than or equal to 50% of its Starting Value. §The Contingent Coupon Payment (with Memory) payable on any Coupon Payment Date will be calculated according to the following formula: (i) theproductof the Contingent Coupon Payment (with Memory) applicable to a single Coupon Payment Datetimesthe number of Coupon Payment Dates that haveoccurred up to the relevant Coupon Payment Date (inclusive of the relevant Coupon Payment Date)minus(ii) thesumof all Contingent Coupon Payments(with Memory) previously paid. The Contingent Coupon Payment (with Memory) applicable to a single Coupon Payment Date is $0.6925 per unit, equal to arate of 27.70% per annum. §Automatically callable if the Observation Value of the Worst-Performing Underlying Stock on any quarterly Call Observation Date, beginning approximatelythree months after the pricing date, is at or above its Starting Value. If the notes are called, you will receive the principal amount of your notesplustheContingent Coupon Payment (with Memory) otherwise due on the applicable Call Payment Date. §If not called, at maturity, if the price of the Worst-Performing Underlying Stock has not decreased by more than 50%, a return of principal plus the finalContingent Coupon Payment (with Memory); otherwise, 1-to-1 downside exposure to decreases in the Worst-Performing Underlying Stock, with up to100.00% of the principal amount at risk. §The notes are not linked to a basket composed of the Underlying Stocks. Any depreciation in the price of any Underlying Stock will not be offset by anyappreciation in the price of any other Underlying Stock. All payments are subject to the credit risk of Canadian Imperial Bank of Commerce 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 by theCanada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other governmental agency of the United States, Canada, orany other jurisdiction The notes are being issued by Canadian Imperial Bank of Commerce (“CIBC”). There are important differences between the notes and a conventional debtsecurity, including different investment risks and certain additional costs. See “Risk Factors” beginning on pageTS-7 of this term sheet and beginning onpagePS-9 of product supplement STOCK CYN-1. The initial estimated value of the notes as of the pricing date is $9.507per unit, which is less than the public offering price listed below.See “Summary” onthe following page, “Risk Factors” beginning on pageTS-7 of this term sheet and “Structuring the Notes” on pageTS-12 of this term sheet for additional information.The actual value of your notes at any time will reflect many factors and cannot be predicted with accuracy. None of the Securities and Exchange Commission (the “SEC”), any state securities commission, or any other regulatory body has approved or disapproved of thesesecurities or determined if this Note Prospectus (as defined below) is truthful or complete. Any representation to the contrary is a criminal offense. (1)The underwriting discount reflects a sales commission of $0.10 per unit and a structuring fee of $0.05 per unit. Autocallable Contingent Coupon (with Memory) Barrier NotesLinked to the Worst-Performing of the Common Stock of Tesla,Inc., the Common Stock of NVIDIA Corporation and the ClassA Common Stockof Palantir Technologies Inc., due November18, 2027 Summary The Autocallable Contingent Coupon (with Memory) Barrier Notes Linked to the Worst-Performing of the Common Stock of Tesla,Inc., the CommonStock of NVIDIA Corporation and the ClassA Common Stock of Palantir Technologies Inc., due November18, 2027 (the “notes”) are our seniorunsecured debt securities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation, the U.S. Federal DepositInsurance Corporation or any other governmental agency of the United States, Canada or any other jurisdiction or secured by collateral. The notesare not bail-inable debt securities (as defined on page6 of the prospectus).The notes will rank equally with all of our other unsecured andunsubordinated debt. Any payments due on the notes, including any repayment of principal, will be subject to the credit risk of CIBC.Thenotes will pay a Contingent Coupon Payment (with Memory) on the applicable Coupon Payment Date if the Observation Value of the Worst-Performing Underlying Stock, which will be one of the common stock of Tesla,Inc., the common stock of NVIDIA Corporation and the ClassAcommon stock of Palantir Technologies Inc. (each an “Underlying Stock” and collectively the “