CIBC SEC Filings

CIBC is marketing Autocallable Strategic Accelerated Redemption Securities (STARS) linked to the Russell 2000 Index. The structured notes are offered at $10 per unit, carry a maximum term of approximately five years, and are automatically redeemed early if, on any Observation Date, the index closes at or above its initial level (the “Call Level”). There are five potential Observation Dates scheduled roughly one, two, three, four and five years after pricing.

Call premiums escalate over time:

• $10.75–$10.85 if called after year 1
• $11.50–$11.70 after year 2
• $12.25–$12.55 after year 3
• $13.00–$13.40 after year 4
• $13.75–$14.25 at the final Observation Date

Downside profile at maturity: If not previously called and the index declines ≤15 %, investors receive full principal. If the decline exceeds 15 %, losses match the index on a 1-for-1 basis, exposing up to 85 % of capital.

Key considerations: • No interim interest payments • Return is capped at the applicable call premium • Credit exposure to CIBC • The initial estimated value will be below the public offer price • Secondary market values may be lower than purchase price • Investors forgo dividends of the index constituents • Small-cap volatility risk inherent in the Russell 2000.

The notes are not listed on any exchange; detailed terms, risks and tax treatment are in the linked Preliminary Offering Documents filed under CIBC’s FWP (SEC Reg. No. 333-272447).

Canadian Imperial Bank of Commerce (CIBC) has filed a Free Writing Prospectus for Autocallable Strategic Accelerated Redemption Securities linked to the Russell 2000 Index, with a maturity date in July 2030. The securities, priced at $10 per unit, feature automatic call provisions with increasing redemption amounts over five observation dates.

Key features include:

• Automatic call if Index closes at or above Starting Value on any Observation Date
• Call amounts range from $10.75-$10.85 (Year 1) to $13.75-$14.25 (Year 5)
• If not called and Index doesn't decline more than 15%, principal is returned
• 1-to-1 downside exposure beyond 15% decline, with up to 85% principal at risk
• Initial estimated value between $9.224-$9.656 per unit

Notable risks include credit risk of CIBC, no periodic interest payments, limited secondary market liquidity, and potential for significant principal loss. The offering includes a $0.20 underwriting discount and $0.05 hedging-related charge per unit.

Canadian Imperial Bank of Commerce (CIBC) has issued $2,731,000 in Trigger Step Securities linked to an equity index basket, due July 1, 2030. The securities track a weighted basket of S&P 500 Index (60%) and EURO STOXX 50 Index (40%).

Key features include:

• If basket ending value ≥ 100% of starting value: Principal plus greater of basket return or 49.12% Step Return
• If ending value is between 75-100% of starting value: Full principal repayment
• If ending value < 75%: Principal loss proportional to basket decline

Important risks: Securities offer no interest payments and no principal protection. Initial estimated value is $9.91 per $10.00 principal amount. These unsecured debt obligations are subject to CIBC's creditworthiness and are not CDIC insured. Securities will not be listed on any exchange, limiting liquidity options.

Canadian Imperial Bank of Commerce (CIBC) has filed a Free Writing Prospectus for Leveraged Index Return Notes (LIRNs) linked to the Dow Jones Industrial Average. Key features include:

• Principal amount of $10.00 per unit with approximately 6-year term
• Leveraged upside exposure of 101.00% to 121.00% to index increases
• Principal protection if index decreases by no more than 15%
• Downside risk exposure of up to 85% of principal if index falls beyond threshold

Notable risks include credit risk of CIBC, potential principal loss up to 85%, no dividend rights, and initial estimated value below offering price. The investment targets investors anticipating index growth who accept downside risk below threshold and no interim interest payments. Returns are illustrated through various scenarios, with maximum loss capped at 85% and upside leverage demonstrated up to 55.50% return for a 50% index gain.

Canadian Imperial Bank of Commerce (NYSE: CM) filed a Free Writing Prospectus for a new offering of Leveraged Index Return Notes (LIRNs) linked to the Dow Jones Industrial Average.

The structured notes carry a six-year term (maturing in July 2031) with a $10 principal amount per unit. Investors receive [101%-121%] leveraged upside on any gain in the Index. Principal is protected only if the Index does not decline by more than 15%; beyond that threshold, losses are one-for-one, exposing up to 85% of principal to market risk. The notes pay no periodic interest and all payments occur at maturity, subject to CIBC’s credit risk.

Pricing is expected in July 2025. The initial estimated value is projected between $9.055 and $9.700 per $10 unit, below the public offering price due to a $0.25 underwriting discount and a $0.05 hedging-related charge. The notes are unsecured, unsubordinated debt, are not FDIC/CDIC insured, and will have only limited secondary market liquidity with no exchange listing.

Key governing documents include the prospectus and supplements dated September 5, 2023. All payments depend on CIBC’s ability to meet its obligations.

Canadian Imperial Bank of Commerce (CIBC) is offering $1,000-denominated Market Linked Securities that combine a contingent quarterly coupon (memory feature) with an auto-call mechanism and contingent downside principal at risk. The notes reference the worst-performing of Amazon.com (AMZN), Alphabet Class A (GOOGL) and NVIDIA (NVDA) and mature on 21 July 2028 unless called earlier.

Key commercial terms

• Contingent Coupon Rate: ≥ 12.25% p.a., paid quarterly only if the worst stock’s closing price on the determination date is ≥ 50 % of its starting price. Missed coupons accrue and may be paid later under the memory feature.
• Auto-call: If on any quarterly observation date (from Jan 2026) the worst stock is at or above its starting price, investors receive par plus the current and any unpaid coupons.
• Principal repayment: At maturity, investors receive par if the worst stock is ≥ 50 % of its starting price; otherwise repayment equals par × performance factor, exposing investors to unlimited downside below –50 %.
• Issuer’s estimated value on the pricing date: ≥ $922.70, below the $1,000 offer price, reflecting embedded fees of up to 2.325 %.

Risk highlights

• Full exposure to the worst performer; no participation in upside above coupon income.
• Credit risk of CIBC; notes are unsecured and not CDIC/FDIC-insured.
• No exchange listing and uncertain secondary liquidity; market value likely below issue price.
• Complex tax treatment; investors should review the preliminary pricing supplement.

The security targets income-seeking investors willing to accept equity downside and issuer credit risk in exchange for potentially elevated coupons. Investors must be comfortable with possible loss of more than 50 % of principal if the worst stock breaches the 50 % barrier at maturity and the note has not been called.