加拿大帝国商业银行美股招股说明书(2026-02-04版)

Canadian Imperial Bank of Commerce Trigger Autocallable Contingent Yield Notes $6,623,000 Notes Linked to the Least Performing of the S&P 500® Index and the Russell 2000®Index due on December 27, 2030 Investment Description These Trigger Autocallable Contingent Yield Notes (the “Notes”) are senior unsecured debt securities issued by Canadian Imperial Bank of Commerce (“CIBC”) with returns linked to the Least Performingof the S&P 500®Index and the Russell 2000®Index (each, an “Underlying” and together, the “Underlyings”). The Notes will rank equally with all of our other unsecured and unsubordinated debtobligations. CIBC will pay a quarterly Contingent Coupon if the Closing Level of each Underlying on the applicable Coupon Determination Date (including the Final Valuation Date) is equal to or greaterthan its Coupon Barrier. Otherwise, no coupon will be paid for the quarter. CIBC will automatically call the Notes if the Closing Level of each Underlying on any quarterly Call Observation Date,commencing on June 23, 2026, is equal to or greater than its Initial Level. If the Notes are called, CIBC will pay you the principal amount of your Notes plus the Contingent Coupon for the applicablequarter, and no further amounts will be owed to you under the Notes. The Underlying with the lowest Underlying Return is the “Least Performing Underlying.” If the Notes are not called prior to maturityand the Final Level of the Least Performing Underlying is equal to or greater than its Coupon Barrier, CIBC will pay you a cash payment at maturity equal to the principal amount of your Notes plus thefinal Contingent Coupon. If the Final Level of the Least Performing Underlying is less than its Coupon Barrier but equal to or greater than its Downside Threshold, CIBC will pay you a cash payment at Investing in the Notes involves significant risks. CIBC may not pay any Contingent Coupons on the Notes. You may lose some or all of your principal amount. You will be exposed to the marketrisk of each Underlying on each Coupon Determination Date and any decline in the level of one Underlying may negatively affect your return and will not be offset or mitigated by a lesserdecline or any increase in the level of any other Underlying. Generally, the higher the Contingent Coupon Rate on a Note, the greater the risk of loss on that Note. The contingent repayment ofprincipal only applies if you hold the Notes to maturity or automatic call. Any payments on the Notes, including any repayment of principal, are subject to the creditworthiness of CIBC. If Key Dates Features ❑Contingent Coupon:CIBC will pay a quarterly Contingent Coupon payment if the Closing Level of eachUnderlying on the applicable Coupon Determination Date is equal to or greater than its Coupon Barrier.Otherwise, no coupon will be paid for the quarter.❑Automatically Callable:CIBC will automatically call the Notes and pay you the principal amount of your Trade DateDecember 23, 2025Settlement DateDecember 29, 2025Coupon Determination Dates1Quarterly, commencing on March 23, 2026 Notes plus the Contingent Coupon otherwise due for that applicable quarter if the Closing Level of eachUnderlying on any quarterly Call Observation Date, commencing on June 23, 2026 is equal to or greaterthan its Initial Level. If the Notes are not called, investors will potentially lose a portion of their principal amount at maturity.❑Contingent Repayment of Principal Amount at Maturity:If the Notes have not been previously called and the Final Level of the Least Performing Underlying is not less than its Coupon Barrier, CIBC will payyou the principal amount per Note at maturity plus the final Contingent Coupon. If the Final Level of theLeast Performing Underlying is less than its Coupon Barrier but equal to or greater than its DownsideThreshold, CIBC will pay you a cash payment at maturity equal to the principal amount of your Notes (azero return). If the Final Level of the Least Performing Underlying is less than its Downside Threshold,CIBC will pay a cash amount that is less than the principal amount, if anything, resulting in a loss on your See page PS-4 for additional details. THE NOTES ARE SIGNIFICANTLY RISKIER THAN CONVENTIONAL DEBT INSTRUMENTS. THE TERMS OF THE NOTES MAY NOT OBLIGATE CIBC TO REPAY THE FULLPRINCIPAL AMOUNT OF THE NOTES. THE NOTES CAN HAVE DOWNSIDE MARKET RISK SIMILAR TO THE LEAST PERFORMING UNDERLYING, WHICH CAN RESULT IN ALOSS OF SOME OR ALL OF THE PRINCIPAL AMOUNT AT MATURITY. THIS MARKET RISK IS IN ADDITION TO THE CREDIT RISK INHERENT IN PURCHASING A DEBT YOU SHOULD CAREFULLY CONSIDER THE RISKS DESCRIBED UNDER “KEY RISKS” BEGINNING ON PAGE PS-7 AND THE MORE DETAILED “RISK FACTORS” BEGINNINGON PAGE S-1 OF THE ACCOMPANYING UNDERLYING SUPPLEMENT, BEGINNING ON PAGE S-1 OF THE ACCOMPANYING PROSPECTUS SUPPLEMENT AND PAGE 1 OF THEACCOMPANYING PROSPECTUS BEFORE PURCHASING ANY NOTES. EVENTS RELATING TO ANY OF THOSE RISKS, OR OTHER RISKS AND UNCERTAINTIES, COULD Note Offeri