加拿大帝国商业银行美股招股说明书(2025-12-22版)

December 18, 2025December 26, 2025December 27, 2030 Pricing DateSettlement DateMaturity Date Leveraged Index Return Notes®Russell 1000®Value Index In addition to the underwriting discount set forth below, the notes include a hedging-related charge of $0.05 perunit. See “Structuring the Notes” 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 notesare not insured or guaranteed by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance The notes are being issued by Canadian Imperial Bank of Commerce (“CIBC”). There are important differences between thenotes and a conventional debt security, including different investment risks and certain additional costs. See “Risk Factors”and “Additional Risk Factors” beginning on page TS-6 of this term sheet and “Risk Factors” beginning on page PS-7 of The initial estimated value of the notes as of the pricing date is $9.415 per unit, which is less than the public offering pricelisted below.See “Summary” on the following page, “Risk Factors” beginning on page TS-6 of this term sheet and “Structuring theNotes” on page TS-12 of this term sheet for additional information. The actual value of your notes at any time will reflect many factors Leveraged Index Return NotesLinked to the Russell 1000®Value Index, due December 27, 2030 Summary The Leveraged Index Return Notes® Linked to the Russell 1000®Value Index, due December 27, 2030 (the “notes”) are our seniorunsecured debt securities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation, the U.S. FederalDeposit Insurance Corporation or any other governmental agency of the United States, Canada or any other jurisdiction or secured bycollateral. The notes are not bail-inable debt securities (as defined on page 6 of the prospectus).The notes will rank equally with allof our other unsecured and unsubordinated debt. Any payments due on the notes, including any repayment of principal, will be subject to the credit risk of CIBC.The notes provide you a leveraged return, if the Ending Value of the Market Measure, which isthe Russell 1000®Value Index (the “Index”), is greater than the Starting Value. If the Ending Value is equal to the Starting Value, youwill receive the principal amount of your notes. If the Ending Value is less than the Starting Value, you will lose all or a portion of the The economic terms of the notes (including the Participation Rate) are based on our internal funding rate, which is the rate we wouldpay to borrow funds through the issuance of market-linked notes, and the economic terms of certain related hedging arrangements. Ourinternal funding rate is typically lower than the rate we would pay when we issue conventional fixed rate debt securities. This differencein funding rate, as well as the underwriting discount and the hedging-related charge and certain service fee described below, reduced On the cover page of this term sheet, we have provided the initial estimated value for the notes. This initial estimated value wasdetermined based on our pricing models, and was based on our internal funding rate on the pricing date, market conditions and otherrelevant factors existing at that time, and our assumptions about market parameters. For more information about the initial estimated Redemption Amount Determination Terms of the Notes On the maturity date, you will receive a cash payment per unit determined asfollows: Leveraged Index Return NotesLinked to the Russell 1000®Value Index, due December 27, 2030 The terms and risks of the notes are contained in this term sheet and in the following: Product supplement EQUITY LIRN-1 dated September 5, 2023:https://www.sec.gov/Archives/edgar/data/1045520/000110465923098267/tm2325339d2_424b5.htmProspectus supplement dated September 5, 2023:https://www.sec.gov/Archives/edgar/data/1045520/000110465923098166/tm2322483d94_424b5.htmProspectus dated September 5, 2023:https://www.sec.gov/Archives/edgar/data/1045520/000110465923098163/tm2325339d10_424b3.htm These documents (together, the “Note Prospectus”) have been filed as part of a registration statement with the SEC, which may, withoutcost, be accessed on the SEC website as indicated above or obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated(“MLPF&S”) or BofAS by calling 1-800-294-1322. Before you invest, you should read the Note Prospectus, including this term sheet, for Capitalized terms used but not defined in this term sheet have the meanings set forth in product supplement EQUITY LIRN-1. Unlessotherwise indicated or unless the context requires otherwise, all references in this document to “we,” “us,” “our,” or similar referencesare to CIBC. Investor Considerations The notes may not be an appropriate investment for you if: You may wish to consider an investment in the notes if: You believe that the Index will decre