加拿大帝国商业银行美股招股说明书(2026-06-29版)

Autocallable Strategic Accelerated RedemptionSecurities®Linked to the S&P 500®Index ■Automatically callable if the closing level of the Index on any Observation Date, occurring approximately one, two, three, four, five and six yearsafter the pricing date, is at or above the Starting Value■In the event of an automatic call, the amount payable per unit will be: ■$10.742 if called on the first Observation Date■$11.484 if called on the second Observation Date■$12.226 if called on the third Observation Date■$12.968 if called on the fourth Observation Date■$13.710 if called on the fifth Observation Date■$14.452 if called on the final Observation Date ■If not called on the first five Observation Dates, a maturity of approximately six years ■If not called but the Index does not decline by more than 15.00%, a return of principal ■If not called, 1-to-1 downside exposure to decreases in the Index beyond a 15.00% decline, with up to 85.00% of the principal amount at risk ■All payments are subject to the credit risk of Canadian Imperial Bank of Commerce ■In addition to the underwriting discount set forth below, the notes include a hedging-related charge of $0.05 per unit. See “Structuring the Notes”■Limited secondary market liquidity, with no exchange listing ■The notes are unsecured debt securities and are not savings accounts or insured deposits of a bank. The notes are not insured or guaranteedby the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other governmental agency of the UnitedStates, Canada, or any other jurisdiction The notes are being issued by Canadian Imperial Bank of Commerce (“CIBC”). There are important differences between thenotes and a conventional debt security, including different investment risks and certain additional costs. See “Risk Factors”beginning on page TS-6 of this term sheet and beginning on page PS-7 of product supplement EQUITY STR-1. The initial estimated value of the notes as of the pricing date is $9.696 per unit, which is less than the public offering pricelisted below.See “Summary” on the following page, “Risk Factors” beginning on page TS-6 of this term sheet and “Structuring theNotes” on page TS-122 of this term sheet for additional information. The actual value of your notes at any time will reflect many factorsand cannot be predicted with accuracy. None of the Securities and Exchange Commission (the “SEC”), any state securities commission, or any other regulatory body hasapproved or disapproved of these securities or determined if this Note Prospectus (as defined below) is truthful or complete. Anyrepresentation to the contrary is a criminal offense. Public offering priceUnderwriting discountProceeds, before expenses, to CIBC Autocallable Strategic Accelerated Redemption Securities®Linked to the S&P 500®Index, due June 25, 2032 Summary TheAutocallableStrategic Accelerated Redemption Securities®Linked to the S&P 500®Index, due June 25, 2032 (the “notes”) are our senior unsecured debtsecurities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation or any othergovernmental agency of the United States, Canada or any other jurisdiction or secured by collateral. The notes are not bail-inable debt securities (as defined onpage 6 of the prospectus).The notes will rank equally with all of our other unsecured and unsubordinated debt. Any payments due on the notes,including any repayment of principal, will be subject to the credit risk of CIBC.The notes will be automatically called at the applicable Call Amount if theclosing level of the Market Measure, which is the S&P 500®Index (the “Index”), on any Observation Date is equal to or greater than the Starting Value. You will notreceive any notice from us if the notes are automatically called. If your notes are not called but the Ending Value is greater than or equal to the Threshold Value,you will receive the principal amount of your notes. If your notes are not called and the Ending Value is less than the Threshold Value, you will lose a portion, whichcould be significant, of the principal amount of your notes. Any payments on the notes will be calculated based on the $10 principal amount per unit and willdepend on the performance of the Index, subject to our credit risk. See “Terms of the Notes” below. The economic terms of the notes (including the Call Premiums and the Call Amounts) are based on our internal funding rate, which is the rate we would pay toborrow funds through the issuance of market-linked notes, and the economic terms of certain related hedging arrangements. Our internal funding rate is typicallylower than the rate we would pay when we issue conventional fixed rate debt securities. This difference in funding rate, as well as the underwriting discount and thehedging-related charge and certain service fee described below, reduced the economic terms of the notes to you and the initial