加拿大帝国商业银行美股招股说明书(2025-11-21版)

Canadian Imperial Bank of Commerce Trigger Autocallable Contingent Yield Notes $11,399,900 Notes Linked to the Least Performing of the Russell 2000®Index and the Nasdaq-100 Index® due on November 22, 2030 Investment Description returns linked to the Least Performing of the Russell 2000®Index and the Nasdaq-100 Index®(each, an “Underlying” and together, the “Underlyings”). The Notes willrank equally with all of our other unsecured and unsubordinated debt obligations. CIBC will pay a quarterly Contingent Coupon if the Closing Level of each Underlying onthe applicable Coupon Determination Date (including the Final Valuation Date) is equal to or greater than its Coupon Barrier. Otherwise, no coupon will be paid for thequarter. CIBC will automatically call the Notes if the Closing Level of each Underlying on any quarterly Call Observation Date, commencing on May 19, 2026, is equal to orgreater than its Initial Level. If the Notes are called, CIBC will pay you the principal amount of your Notes plus the Contingent Coupon for the applicable quarter, and nofurther amounts will be owed to you under the Notes. The Underlying with the lowest Underlying Return is the “Least Performing Underlying.” If the Notes are not calledprior to maturity and the Final Level of the Least Performing Underlying is equal to or greater than its Coupon Barrier, CIBC will pay you a cash payment at maturity equal Investing in the Notes involves significant risks. CIBC may not pay any Contingent Coupons on the Notes. You may lose some or all of your principal amount. Youwill be exposed to the market risk of each Underlying on each Coupon Determination Date and any decline in the level of one Underlying may negatively affectyour return and will not be offset or mitigated by a lesser decline or any increase in the level of any other Underlying. Generally, the higher the Contingent CouponRate on a Note, the greater the risk of loss on that Note. The contingent repayment of principal only applies if you hold the Notes to maturity or automatic call. Features Key Dates ❑Contingent Coupon:CIBC will pay a quarterly Contingent Coupon payment if the ClosingLevel of each Underlying on the applicable Coupon Determination Date is equal to orgreater than its Coupon Barrier. Otherwise, no coupon will be paid for the quarter. Trade DateSettlement DateCoupon DeterminationDates1Call Observation Dates1Final Valuation Date1 ❑Automatically Callable:CIBC will automatically call the Notes and pay you the principalamount of your Notes plus the Contingent Coupon otherwise due for that applicablequarter if the Closing Level of each Underlying on any quarterly Call Observation Date, ❑Contingent Repayment of Principal Amount at Maturity:If the Notes have not beenpreviously called and the Final Level of the Least Performing Underlying is not less than itsCoupon Barrier, CIBC will pay you the principal amount per Note at maturity plus the finalContingent Coupon. If the Final Level of the Least Performing Underlying is less than itsCoupon Barrier but equal to or greater than its Downside Threshold, CIBC will pay you acash payment at maturity equal to the principal amount of your Notes (a zero return). If theFinal Level of the Least Performing Underlying is less than its Downside Threshold, CIBC See page PS-4 for additional details. THE NOTES ARE SIGNIFICANTLY RISKIER THAN CONVENTIONAL DEBT INSTRUMENTS. THE TERMS OF THE NOTES MAY NOT OBLIGATE CIBC TO REPAY THE FULLPRINCIPAL AMOUNT OF THE NOTES. THE NOTES CAN HAVE DOWNSIDE MARKET RISK SIMILAR TO THE LEAST PERFORMING UNDERLYING, WHICH CAN RESULTIN A LOSS OF SOME OR ALL OF THE PRINCIPAL AMOUNT AT MATURITY. THIS MARKET RISK IS IN ADDITION TO THE CREDIT RISK INHERENT IN PURCHASING A YOU SHOULD CAREFULLY CONSIDER THE RISKS DESCRIBED UNDER “KEY RISKS” BEGINNING ON PAGE PS-7 AND THE MORE DETAILED “RISK FACTORS”BEGINNING ON PAGE S-1 OF THE ACCOMPANYING UNDERLYING SUPPLEMENT, BEGINNING ON PAGE S-1 OF THE ACCOMPANYING PROSPECTUS SUPPLEMENTAND PAGE 1 OF THE ACCOMPANYING PROSPECTUS BEFORE PURCHASING ANY NOTES. EVENTS RELATING TO ANY OF THOSE RISKS, OR OTHER RISKS AND Note Offering The Notes are offered at a minimum investment of $1,000 in denominations of $10 and integral multiples of $10 in excess thereof. ** Rounded to two decimal places. See “Additional Information About the Notes” on page PS-2. The Notes offered will have the terms specified in the accompanying prospectus, prospectus supplement andunderlying supplement and the terms set forth herein. Neither the U.S. Securities and Exchange Commission (the “SEC”) nor any state or provincial securities commission has approved or disapproved of the Notes ordetermined if this pricing supplement or the accompanying underlying supplement, prospectus supplement or prospectus is truthful or complete. Anyrepresentation to the contrary is a criminal offense. The Notes will not constitute deposits insured by the Canada Deposit Insurance Corporation (the “CDIC”), the U.S