加拿大帝国商业银行美股招股说明书(2025-12-08版)

Canadian Imperial Bank of Commerce$77,167,000Senior Global Medium-Term NotesAutocallable S&P 500®Index-Linked Notes dueDecember 6, 2028 The notes do not bear interest.The notes will mature on the stated maturity date (December 6, 2028, subject to adjustment) unless they areautomatically called on either call observation date (December 14, 2026 and December 6, 2027, each subject to adjustment). Your notes will beautomatically called on a call observation date if the closing level of the S&P 500®Index (the “underlier”) on such date isgreater thanorequaltothe initial underlier level (6,857.12, which was the closing level of the underlier on the trade date), resulting in a payment on thecorresponding call payment date equal to the principal amount of your notestimes(i) 107.90% with respect to the first call observation date and(ii) 115.80% with respect to the second call observation date.If your notes are not automatically called, the amount that you will be paid on your notes on the stated maturity date is based on the performance of the underlier as measured from the trade date to and including the determination date (December 4, 2028, subject toadjustment). At maturity, if the final underlier level on the determination date isgreater thanorequal tothe initial underlier level, the return on your notes willbe positive, and will equal the greater of (1) the maturity date premium amount of 23.70%; and (2) 2timesthe underlier return. If the finalunderlier level declines by up to 20.00% from the initial underlier level, you will receive the principal amount of your notes.If the final underlierlevel declines by more than 20.00% from the initial underlier level, the return on your notes will be negative.You could lose yourentire investment in the notes. If your notes are automatically called, the return on your notes is capped. The maximum payment you could receive for each $1,000 principalamount of your notes is (i) $1,079.00 with respect to the first call observation date and (ii) $1,158.00 with respect to the second call observationdate. If your notes are not automatically called on either call observation date, we will calculate the underlier return to determine your payment atmaturity, which is the percentage increase or decrease in the final underlier level from the initial underlier level. On the stated maturity date, foreach $1,000 principal amount of your notes, you will receive an amount in cash equal to: ●if the underlier return iszeroorpositive(i.e. the final underlier level isequal toorgreater thanthe initial underlier level), thegreater of:(1)the cash settlement amount of $1,237.00; and(1)thesumof (i) $1,000plus(ii) theproductof (a) $1,000times(b) 2times(c) the underlier return;●if the underlier return isnegativebutnot below-20.00% (i.e. the final underlier level isless thanthe initial underlier level, but notby more than 20.00%), $1,000; or●if the underlier return isbelow-20.00% (i.e. the final underlier level isless than80.00% of the initial underlier level), thesumof (i)$1,000plus(ii) theproductof (a) the underlier returntimes(b) $1,000.This amount will be less than $1,000 and may be zero. The notes have complex features and investing in the notes involves risks not associated with an investment in conventional debt securities.See “Additional Risk Factors Specific to Your Notes” beginning on page PRS-10 of this Pricing Supplement and “Risk Factors” beginning onpage S-1 of the accompanying Underlying Supplement. Our estimated value of the notes on the trade date, based on our internal pricing models, is $964.30 per note. The estimated value is less than the initialissue price of the notes. See “Additional Information Regarding Estimated Value of the Notes” in this Pricing Supplement. The notes are unsecured obligations of Canadian Imperial Bank of Commerce and all payments on the notes are subject to the credit risk ofCanadian Imperial Bank of Commerce. The notes will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S.Federal Deposit Insurance Corporation or any other government agency or instrumentality of Canada, the United States or any otherjurisdiction. The notes are not bail-inable debt securities (as defined on page 6 of the Prospectus). The notes will not be listed on any U.S.securities exchange. Neither the United States Securities and Exchange Commission (the “SEC”) nor any state or provincial securities commission has approvedor disapproved of these securities or determined if this Pricing Supplement or the accompanying Underlying Supplement, ProspectusSupplement or Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. The issue price, agent’s commission and net proceeds listed above relate to the notes we will sell initially.We may decide to sell additional notes afterthe trade date, at issue prices and with agent’s commissions and net proceeds that differ from the amounts set forth above. The return (whe