加拿大帝国商业银行美股招股说明书(2025-12-29版)

Pricing Supplement dated December 23, 2025(To Stock-Linked Underlying Supplement dated September 5, 2023, Canadian Imperial Bank of Commerce Senior Global Medium-Term Notes $272,000 Contingent Coupon (with Memory) Autocallable Barrier Notes Linked to the Worst Performing of the Class ACommon Stock of Alphabet Inc., the Common Stock of Philip Morris International Inc. and theClass A Common Stock of The Contingent Coupon (with Memory) Autocallable Barrier Notes (the “notes”) will provide monthly Contingent Coupon Payments of $8.758 per$1,000 principal amount (or 0.8758% of the principal amount, equivalent to approximately 10.51% per annum), as well as any previously unpaidContingent Coupon Payments with respect to prior Coupon Determination Dates as described in the paragraph below, until the earlier of maturity orautomatic call if,and only if, the Closing Price of the Worst Performing Reference Stock on the applicable monthly Coupon Determination Date is If a Contingent Coupon Payment is not payable on a Coupon Payment Date because the Closing Price of the Worst Performing Reference Stock on therelevant Coupon Determination Date is less than its Coupon Barrier Level, such Contingent Coupon Payment will become payable on a later CouponPayment Date if, and only if, the Closing Price of the Worst Performing Reference Stock on such later Coupon Determination Date is greater than orequal to its Coupon Barrier Level. For the avoidance of doubt, once a previously unpaid Contingent Coupon Payment has been paid on a later Coupon If the Closing Price of the Worst Performing Reference Stock on any quarterly Call Observation Date beginning on June 23, 2026 is greater than or equalto its Call Price (100% of its Initial Price), we will automatically call the notes and pay you on the applicable Call Payment Date the principal amountplus the applicable Contingent Coupon Payment (with Memory). No further amounts will be owed to you.If the notes have not been previously called, the Payment at Maturity will depend on the Final Price of the Worst Performing Reference Stock and will be a.If the Final Price of the Worst Performing Reference Stock is greater than or equal to its Principal Barrier Price (50% of its Initial Price): the sum of(i) the principal amount and (ii) the final Contingent Coupon Payment (with Memory).b.If the Final Price of the Worst Performing Reference Stock is less than its Principal Barrier Price: (i) the principal amount plus (ii) the product of theprincipal amount multiplied by the Percentage Change of the Worst Performing Reference Stock. In this case, you will lose some or all of theprincipal amount at maturity. Even with any Contingent Coupon Payments (with Memory), the return on the notes could be negative.The notes will not be listed on any securities exchange.The notes will be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. The notes are unsecured obligations of the Bank and any payments on the notes are subject to the credit risk of the Bank. The notes will notconstitute deposits insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation, or any other government Neither the Securities and Exchange Commission (the “SEC”) nor any state or provincial securities commission has approved or disapproved ofthese notes or determined if this pricing supplement or the accompanying underlying supplement, prospectus supplement or prospectus is truthful or Investing in the notes involves risks not associated with an investment in ordinary debt securities. See “Additional Risk Factors” beginning on pagePS-9 of this pricing supplement, and “Risk Factors” beginning on page S-1 of the accompanying underlying supplement, page S-1 of the prospectus (1)CIBC World Markets Corp. (“CIBCWM”),acting as agent for the Bank,will not receive any underwriting discount in connection with thedistribution of the notes. See “Supplemental Plan of Distribution (Conflicts of Interest)” on page PS-18 of this pricing supplement.The initial estimated value of the notes on the Trade Date as determined by the Bank is $915.30 per $1,000 principal amount of the notes, which is less than We will deliver the notes in book-entry form through the facilities of The Depository Trust Company (“DTC”) on December 26, 2025 against payment inimmediately available funds. ADDITIONAL TERMS OF THE NOTES You should read this pricing supplement together with the prospectus dated September 5, 2023 (the “prospectus”), the prospectussupplement dated September 5, 2023 (the “prospectus supplement”) and the Stock-Linked Underlying Supplement dated September 5,2023 (the “underlying supplement”). Information in this pricing supplement supersedes information in the underlying supplement, theprospectus supplement and the prospectus to the extent it is different from that information. Certain terms used but not defined herein You should rely only on the information