加拿大帝国商业银行美股招股说明书(2026-04-15版)

The information in this preliminary Pricing Supplement is not complete and may be changed. This preliminary Pricing Supplement and the accompanying Underlying Supplement,Prospectus Supplement and Prospectus are not an offer to sell these securities and we are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale isnot permitted. Subject to Completion, Dated April 15, 2026PRICING SUPPLEMENT dated, 2026(To Equity Index Underlying Supplement dated September 5, 2023,Prospectus Supplement dated September 5, 2023 andProspectus dated September 5, 2023) Canadian Imperial Bank of Commerce $ Senior Global Medium-Term NotesDigital Basket-Linked Notesdue The notes do not bear interest.The amount that you will be paid on your notes on the stated maturity date (expected to be the second scheduledbusiness day after the determination date) is based on the performance of a weighted basket comprised of the EURO STOXX 50®Index (40.00%weighting), the TOPIX®Index (25.00% weighting), the FTSE®100 Index (17.00% weighting), the Swiss Market Index (11.00% weighting) and theS&P/ASX 200 Index (7.00% weighting) (the “basket”) as measured from the trade date to and including the determination date (expected to be between23 and 26 months after the trade date). The initial basket level is 100 and the final basket level will equal thesumof the products, as calculated for eachbasket underlier, of: (i) the final basket underlier level divided by the initial basket underlier level (set on the trade date and will be an intra-day level orthe closing level of the basket underlier on the trade date) multiplied by (ii) the applicable initial weighted value for the basket underlier. If the final basketlevel on the determination date isgreater than or equal tothe initial basket level, the return on your notes will be positive and you will receive, for each$1,000 principal amount of your notes, the greater of (i) the threshold settlement amount (expected to be between $1,140.40 and $1,164.80 for each$1,000 principal amount of your notes) and (ii) thesumof $1,000plustheproductof $1,000timesthe basket return. If the final basket level declines byup to 10.00% from the initial basket level, you will receive the principal amount of your notes.If the final basket level declines by more than 10.00%from the initial basket level, the return on your notes will be negative.You could lose your entire investment in the notes. To determine your payment at maturity, we will calculate the basket return, which is the percentage increase or decrease in the final basket level from theinitial basket level. On the stated maturity date, for each $1,000 principal amount of your notes, you will receive an amount in cash equal to: ●if the basket return ispositive or zero(i.e. the final basket level isgreater than or equal tothe initial basket level), the greater of (i) thethreshold settlement amount and (ii) thesumof (a) $1,000plus(b) theproductof (1) $1,000times(2) the basket return; or●if the basket return isnegativebutnot below-10.00% (i.e. the final basket level isless thanthe initial basket level, but not by more than10.00%), $1,000; or●if the basket return isnegativeand isbelow-10.00% (i.e. the final basket level isless thanthe initial basket level by more than 10.00%), thesumof (i) $1,000plus(ii) theproductof (a) approximately 1.1111times(b) thesumof the basket returnplus10.00%times(c) $1,000.Thisamount will be less than $1,000 and may be zero. Declines in one basket underlier may offset increases in the other basket underliers.Due to the unequal weighting of each basket underlier,the performances of the EURO STOXX 50®Index, the TOPIX®Index and the FTSE®100 Index will have a significantly larger impact on yourreturn on the notes than the performance of the Swiss Market Index or the S&P/ASX 200 Index. The notes have complex features and investing in the notes involves risks not associated with an investment in conventional debt securities.See “Additional Risk Factors Specific to Your Notes” beginning on page PRS-14 of this Pricing Supplement and “Risk Factors” beginning onpage S-1 of the accompanying Underlying Supplement. Our estimated value of the notes on the trade date, based on our internal pricing models, is expected to be between $954.50 and $974.50 per note. Theestimated value is expected to be less than the initial issue price of the notes. See “Additional Information Regarding Estimated Value of the Notes” inthis Pricing Supplement. The notes are unsecured obligations of Canadian Imperial Bank of Commerce and all payments on the notes are subject to the credit risk ofCanadian Imperial Bank of Commerce. The notes will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S.Federal Deposit Insurance Corporation or any other government agency or instrumentality of Canada, the United States or any otherjurisdiction. The notes are not bail-inable debt securities (as defined on page 6 of