加拿大帝国商业银行美股招股说明书(2026-01-28版)

Subject to Completion, Dated January28, 2026 PRICING SUPPLEMENT dated, 2026 (To Product Supplement No.WF-1 dated September5, 2023, Stock-Linked Underlying Supplementdated September5, 2023, Prospectus Supplement dated September 5, 2023 and Prospectus datedSeptember5, 2023)Canadian Imperial Bank of Commerce Senior Global Medium-Term Notes Market Linked Securities—Auto-Callable with Contingent Coupon and ContingentDownside Principal at Risk Securities Linked to the Lowest Performing of the Common Stock of The Goldman Sachs Group,Inc., theCommon Stock of Exxon Mobil Corporation, and the ClassA Common Stock of Meta Platforms,Inc. due February16, 2029 Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixed amount of principal at maturity and are subject topotential automatic call prior to maturity upon the terms described below. Whether the securities pay a Contingent Coupon Payment, whether the securities areautomatically called prior to maturity and, if they are not automatically called, whether you receive the face amount of your securities at maturity will depend, ineach case, on the Stock Closing Price of the Lowest Performing Stock on the relevant Calculation Day. The Lowest Performing Stock on any Calculation Day isthe Underlying Stock that has the lowest Stock Closing Price on that Calculation Day as a percentage of its Starting Price. Contingent Coupon Payments. The securities will pay a Contingent Coupon Payment on a quarterly basis until the earlier of the Stated Maturity Date orautomatic call if, and only if, the Stock Closing Price of the Lowest Performing Stock on the related Coupon Determination Date is greater than or equal to itsCoupon Threshold Price. However, if the Stock Closing Price of the Lowest Performing Stock on a Coupon Determination Date is less than its Coupon ThresholdPrice, you will not receive any Contingent Coupon Payment for the relevant quarter. If the Stock Closing Price of the Lowest Performing Stock is less than itsCoupon Threshold Price on every Coupon Determination Date, you will not receive any Contingent Coupon Payments throughout the entire term of the securities.The Coupon Threshold Price of each Underlying Stock is equal to 70% of its Starting Price. The Contingent Coupon Rate will be determined on the Pricing Dateand will be at least 20.00% per annum Automatic Call.If the Stock Closing Price of the Lowest Performing Stock on any of the quarterly Call Observation Dates from August2026 to Novemebr 2028,inclusive, is greater than or equal to its Starting Price, the securities will be automatically called for the face amount plus a final Contingent Coupon Payment Potential Loss of Principal.If the securities are not automatically called prior to maturity, you will receive the face amount at maturity if,and only if, the EndingPrice of the Lowest Performing Stock on the Final Calculation Day is greater than or equal to its Downside Threshold Price. If the Ending Price of the LowestPerforming Stock on the Final Calculation Day is less than its Downside Threshold Price, you will lose more than 30%, and possibly all, of the face amount ofyour securities. The Downside Threshold Price of each Underlying Stock is equal to 70% of its Starting Price If the securities are not automatically called prior to maturity, you will have full downside exposure to the Lowest Performing Stock on the Final Calculation Dayfrom its Starting Price if its Ending Price is less than its Downside Threshold Price, but you will not participate in any appreciation of any Underlying Stock andwill not receive any dividends on any Underlying Stock Your return on the securities will depend solely on the performance of the Underlying Stock that is the Lowest Performing Stock on each Calculation Day. Youwill not benefit in any way from the performance of the better performing Underlying Stocks. Therefore, you will be adversely affected if any Underlying Stockperforms poorly, even if the other Underlying Stocks perform favorably All payments on the securities are subject to the credit risk of Canadian Imperial Bank of Commerce and you will have no ability to pursue any Underlying StockIssuer for payment; if Canadian Imperial Bank of Commerce defaults on its obligations, you could lose all or some of your investment No exchange listing; designed to be held to maturity or earlier automatic call The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities.See “Selected Risk Considerations” beginning on pagePRS-9 herein and “Risk Factors” beginning on pageS-1 of the accompanying underlyingsupplement, pageS-1 of the prospectus supplement and page1 of the prospectus. The securities are unsecured obligations of Canadian Imperial Bank of Commerce and all payments on the securities are subject to the credit risk of CanadianImperial Bank of Commerce. The