加拿大帝国商业银行美股招股说明书(2025-11-26版)

Filed Pursuant to Rule 424(b)(2)Registration No. 333-272447 Subject to Completion, Dated November 26, 2025 PRICING SUPPLEMENT dated, 2025(To Prospectus Supplement dated September 5, 2023 andProspectus dated September 5, 2023) We, Canadian Imperial Bank of Commerce (the “Bank” or “CIBC”), are offering $aggregate principal amount of 4.30%Callable Notes due December 16, 2030 (CUSIP: 13609FCY8 / ISIN: US13609FCY88) (the “Notes”). At maturity, if the Notes have not been previously redeemed, you will receive a cash payment equal to 100% of the principalamount, plus any accrued and unpaid interest. Interest will be paid semi-annually on June 16 and December 16 of each year,commencing on June 16, 2026 and ending on the Maturity Date. The Notes will accrue interest semi-annually at a rate of 4.30% We have the right to redeem the Notes, in whole but not in part, annually, on the Interest Payment Date falling on December 16 ofeach year, beginning on December 16, 2028 and ending on December 16, 2029. The Redemption Price will be 100% of the The Notes will be issued in minimum denominations of $1,000, and integral multiples of $1,000 in excess thereof. The Notes will not be listed on any securities exchange. The Notes are unsecured obligations of CIBC and all payments on the Notes are subject to the credit risk of CIBC. TheNotes will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Neither the Securities and Exchange Commission (the “SEC”) nor any state or provincial securities commission hasapproved or disapproved of these Notes or determined if this pricing supplement or the accompanying prospectus The Notes are bail-inable debt securities (as defined in the accompanying prospectus) and subject to conversion in whole or inpart – by means of a transaction or series of transactions and in one or more steps – into common shares of the Bank or any of itsaffiliates under subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act (the “CDIC Act”) and to variation orextinguishment in consequence, and subject to the application of the laws of the Province of Ontario and the federal laws ofCanada applicable therein in respect of the operation of the CDIC Act with respect to the Notes. See “Description of Senior Debt Investing in the Notes involves risks. See the “Additional Risk Factors” beginning on page PS-5 of this pricing supplementand the “Risk Factors” beginning on page S-1 of the accompanying prospectus supplement and page 1 of the prospectus. (2)CIBC World Markets Corp. (“CIBCWM”), acting as agent for the Bank, will receive a commission of up to $12.50 (1.25%)per $1,000 principal amount of the Notes. CIBCWM may use a portion or all of its commission to allow selling concessionsto other dealers in connection with the distribution of the Notes. The other dealers may forgo, in their sole discretion, some We will deliver the Notes in book-entry form through the facilities of The Depository Trust Company (“DTC”) on or aboutDecember 16, 2025 against payment in immediately available funds. ABOUT THIS PRICING SUPPLEMENT You should read this pricing supplement together with the prospectus dated September 5, 2023 (the “prospectus”) andthe prospectus supplement dated September 5, 2023 (the “prospectus supplement”), each relating to our Senior GlobalMedium-Term Notes of which these Notes are a part, for additional information about the Notes. Information in thispricing supplement supersedes information in the prospectus supplement and the prospectus to the extent it is different You should rely only on the information contained in or incorporated by reference in this pricing supplement and theaccompanying prospectus supplement and the prospectus. This pricing supplement may be used only for the purposefor which it has been prepared. No one is authorized to give information other than that contained in this pricingsupplement and the accompanying prospectus supplement and the prospectus, and in the documents referred to in We are not, and CIBCWM is not, making an offer to sell the Notes in any jurisdiction where the offer or sale is notpermitted. You should not assume that the information contained in or incorporated by reference in this pricingsupplement or the accompanying prospectus supplement or the prospectus is accurate as of any date other than thedate of the applicable document. Our business, financial condition, results of operations and prospects may havechanged since that date. Neither this pricing supplement nor the accompanying prospectus supplement or theprospectus constitutes an offer, or an invitation on our behalf or on behalf of CIBCWM, to subscribe for and purchase References to “CIBC,” “the Issuer,” “the Bank,” “we,” “us” and “our” in this pricing supplement are references toCanadian Imperial Bank of Commerce and not to any of our subsidiaries, unless we state otherwise or the context You may access the prospectus supplement and the