加拿大帝国商业银行美股招股说明书(2026-02-27版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and the accompanyingproduct supplement, underlying supplement, prospectus supplement and prospectus are not an offer to sell these securities and we are not soliciting an offer tobuy these securities in any jurisdiction where the offer or sale is not permitted. Filed Pursuant to Rule 424(b)(2)Registration No. 333-272447 Subject to Completion,Dated February 27, 2026PRICING SUPPLEMENT dated, 2026 (To Product Supplement No. WF-1 dated September 5, 2023, Equity Index Underlying Supplement datedSeptember 5, 2023, Prospectus Supplement dated September 5, 2023 and Prospectus dated September 5, 2023) Canadian Imperial Bank of Commerce Senior Global Medium-Term Notes Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside Principal at Risk Securities Linked to the Lowest Performing of the S&P 500®Index, the Russell 2000®Index and the EUROSTOXX 50®Index due March 28, 2030 Linked to the lowest performing of the S&P 500®Index, the Russell 2000®Indexand the EURO STOXX 50®Index(each referred to as an “Index”) 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 aresubject to potential automatic call prior to maturity upon the terms described below. Whether the securities pay a Contingent Coupon Payment, whetherthe securities are automatically called prior to maturity and, if they are not automatically called, whether you receive the face amount of your securities atmaturity will depend, in each case, on the Closing Level of the Lowest Performing Index on the relevant Calculation Day. The Lowest Performing Indexon any Calculation Day is the Index that has the lowest Closing Level on that Calculation Day as a percentage of its Starting Level 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 Closing Level of the Lowest Performing Index on the related Coupon Determination Date is greater than or equal to itsCoupon Threshold Level. However, if the Closing Level of the Lowest Performing Index on a Coupon Determination Date is less than its CouponThreshold Level, you will not receive any Contingent Coupon Payment for the relevant quarter. If the Closing Level of the Lowest Performing Index isless than its Coupon Threshold Level on every Coupon Determination Date, you will not receive any Contingent Coupon Payments throughout the entireterm of the securities. The Coupon Threshold Level for each Index is equal to 70% of its Starting Level. The Contingent Coupon Rate will be determinedon the Pricing Date and will be at least 9.00% per annum Automatic Call.If the Closing Level of the Lowest Performing Index on any of the quarterly Call Observation Dates from September 2026 to December2029, inclusive, is greater than or equal to its Starting Level, the securities will be automatically called for the face amount plus a final ContingentCoupon 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 Closing Level of the Lowest Performing Index on the Final Calculation Day is greater than or equal to its Downside Threshold Level. If the ClosingLevel of the Lowest Performing Index on the Final Calculation Day is less than its Downside Threshold Level, you will lose more than 30%, and possiblyall, of the face amount of your securities. The Downside Threshold Level for each Index is equal to 70% of its Starting Level If the securities are not automatically called prior to maturity, you will have full downside exposure to the Lowest Performing Index from its StartingLevel if its Closing Level on the Final Calculation Day is less than its Downside Threshold Level, but you will not participate in any appreciation of anyIndex and will not receive any dividends on securities included in any Index Your return on the securities will depend solely on the performance of the Index that is the Lowest Performing Index on each Calculation Day. You willnot benefit in any way from the performance of the better performing Indices. Therefore, you will be adversely affected if any Index performs poorly,even if the other Indices 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 securitiesincluded in any Index 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 co