加拿大帝国商业银行美股招股说明书(2025-11-18版)

Senior Global Medium-Term Notes Market Linked Securities—Auto-Callable with Contingent Coupon with Memory Feature Principal at Risk Securities Linked to the Lowest Performing of the Common Stock of Amazon.com, Inc., the Class A Common ¨Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixed amount of principal at maturity and aresubject to potential automatic call prior to maturity upon the terms described below. Whether the securities pay a Contingent Coupon Payment, whether thesecurities are automatically called prior to maturity and, if they are not automatically called, whether you receive the face amount of your securities atmaturity will depend, in each case, on the Stock Closing Price of the Lowest Performing Stock on the relevant Calculation Day. The Lowest Performing ¨Contingent Coupon Payments. The securities will pay a Contingent Coupon Payment on a quarterly basis until the earlier of the Stated Maturity Date orautomatic call if, and only if, the Stock Closing Price of the Lowest Performing Stock on the related Coupon Determination Date is greater than or equal toits Coupon Threshold Price. In addition, if the Stock Closing Price of the Lowest Performing Stock on one or more Coupon Determination Dates is less thanits Coupon Threshold Price and, on a subsequent Coupon Determination Date, the Stock Closing Price of the Lowest Performing Stock on that subsequentCoupon Determination Date is greater than or equal to its Coupon Threshold Price, on the Coupon Payment Date related to that subsequent CouponDetermination Date, you will receive the Contingent Coupon Payment due for that subsequent Coupon Determination Date plus all previously unpaid ¨Automatic Call.If the Stock Closing Price of the Lowest Performing Stock on any of the quarterly Call Observation Dates from May 2026 to August 2028,inclusive, is greater than or equal to its Starting Price, the securities will be automatically called for the face amount plus the final Contingent CouponPayment and any previously unpaid Contingent Coupon Payments otherwise due ¨Potential Loss of Principal.If the securities are not automatically called prior to maturity, you will receive the face amount at maturity if,and only if, theEnding Price of the Lowest Performing Stock on the Final Calculation Day is greater than or equal to its Downside Threshold Price. If the Ending Price ofthe Lowest Performing Stock on the Final Calculation Day is less than its Downside Threshold Price, you will lose more than 50%, and possibly all, of the If the securities are not automatically called prior to maturity, you will have full downside exposure to the Lowest Performing Stock on the FinalCalculation Day from its Starting Price if its Ending Price is less than its Downside Threshold Price, but you will not participate in any appreciation of anyUnderlying Stock and will not receive any dividends on any Underlying Stock Your return on the securities will depend solely on the performance of the Underlying Stock that is the Lowest Performing Stock on each Calculation Day.You will not benefit in any way from the performance of the better performing Underlying Stocks. Therefore, you will be adversely affected if anyUnderlying Stock performs poorly, even if the other Underlying Stocks perform favorably All 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 UnderlyingStock Issuer for payment; if Canadian Imperial Bank of Commerce defaults on its obligations, you could lose all or some of your investmentNo 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 “Selected Risk Considerations” beginning on page PRS-9 herein and “Risk Factors” beginning on page S-1 of the accompanying underlyingsupplement, page S-1 of the prospectus 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 DepositInsurance Corporation or any other government agency or instrumentality of Canada, the United States or any other jurisdiction. The securities are not bail- 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. Market Linked Securities—Auto-Cal