Canadian Imperial Bank of Commerce 424B Filings

Canadian Imperial Bank of Commerce (CIBC) is offering US$2,000,000,000 of senior unsecured notes due January 29, 2030, split into US$400,000,000 Floating Rate Senior Notes and US$1,600,000,000 4.283% Fixed-to-Floating Rate Senior Notes.

The floating notes pay quarterly interest at Compounded SOFR plus 0.800%, while the fixed-to-floating notes pay 4.283% annually until January 29, 2029, then switch to Compounded SOFR plus 0.790% with quarterly payments. Both series are callable at specified dates and prices and are issued as bail-inable notes, meaning they can be converted into common shares or written down under Canadian bank resolution powers.

The notes rank equally with CIBC’s other unsecured, unsubordinated debt and will not be listed on an exchange. Estimated net proceeds of about US$1,994 million will be added to the bank’s funds and used for general corporate purposes.

Canadian Imperial Bank of Commerce is offering trigger autocallable contingent yield notes linked to the least performing of the S&P 500 Index and the Russell 2000 Index. The notes have a 5-year term, quarterly contingent coupons targeted between 7.35% and 7.85% per annum, and are automatically called if both indices are at or above their initial levels on any quarterly call date starting July 23, 2026. Principal is protected only if the least performing index finishes at or above 70% of its initial level at maturity; if it finishes below this downside threshold, investors incur a loss proportionate to that decline and can lose their entire investment. The notes are senior unsecured obligations of CIBC, not insured or exchange-listed, with $10 denominations (minimum $1,000) and an initial estimated value of $9.447 to $9.678 per $10 due to embedded costs and hedging.

Canadian Imperial Bank of Commerce is offering 5-year Trigger Autocallable Contingent Yield Notes linked to the worst performer of the S&P 500 Index and the Russell 2000 Index. The Notes pay a quarterly contingent coupon at an annual rate of 9.35% to 9.85% (about $0.23375–$0.24625 per $10 Note) only if on each Coupon Determination Date both indices are at or above 70% of their Initial Level.

Starting July 23, 2026, the Notes are automatically called if on a Call Observation Date both indices are at or above their Initial Level, returning $10 per Note plus that quarter’s coupon. If not called and at maturity the worst index is at or above 70% of its Initial Level, investors receive $10 plus the final coupon. If the worst index finishes below 70%, repayment is reduced in proportion to its loss, up to total loss of principal.

The Notes are unsecured senior debt of CIBC, not insured, and will not be listed on an exchange. Denomination is $10 per Note with a $1,000 minimum, and CIBC’s initial estimated value is $9.639 to $9.886 per $10 principal amount.

Canadian Imperial Bank of Commerce is offering Digital S&P 500® Index-Linked Notes due February 3, 2028, whose payoff depends entirely on the S&P 500® Index level on a single determination date. Each note has a $1,000 principal amount, no interest payments and a minimum investment of $1,000.

If the index’s final level is at least 90% of the initial level of 6,875.62, investors receive a fixed cash payment of $1,171 per note, capping total return. If the index falls more than 10%, repayment of principal is reduced using a buffer rate of approximately 111.11%, and the maturity payment can be far below $1,000 or even zero, meaning investors may lose their entire investment.

The notes are unsecured obligations of CIBC, are not insured by any government agency, and will not be listed on a securities exchange. The bank’s estimated value on the trade date is expected to be between $966.60 and $986.60 per note, lower than the $1,000 issue price, reflecting internal funding rates, hedging costs and selling commissions, including up to 1.12% to Goldman Sachs & Co. LLC.

Canadian Imperial Bank of Commerce is offering $500,000 aggregate principal amount of 4.00% Callable Notes with a bonus coupon linked to Compounded SOFR, maturing on January 23, 2029. Each Note has a $1,000 principal amount and pays annual interest in U.S. dollars.

From the original issue date to January 23, 2027, the rate is 4.10% if Compounded SOFR on the January 15, 2027 valuation date is below 4.00%, and 4.00% if it is 4.00% or higher. From January 23, 2027 to maturity, the rate is 4.00% per year, with interest paid annually on January 23.

CIBC may redeem the Notes in whole at 100% of principal plus accrued interest on January 23, 2027 or January 23, 2028, which would stop future interest payments. The Notes are senior unsecured obligations of CIBC, are not insured by any government agency, will not be listed on an exchange, and investors are exposed to CIBC’s credit risk, interest rate risk, SOFR benchmark risk and limited liquidity.

Canadian Imperial Bank of Commerce is offering senior unsecured 4.25% callable notes due February 4, 2030. Each Note has a $1,000 minimum denomination and pays interest at a fixed 4.25% per year, with semi-annual payments on February 4 and August 4, starting August 4, 2026, until maturity or earlier redemption.

CIBC may redeem the Notes in whole, but not in part, at 100% of principal plus accrued interest on February 4 of 2027, 2028, or 2029. The Notes are bail-inable under Canadian bank resolution powers, meaning they can be converted into common shares of CIBC or its affiliates or varied or extinguished if the bank is deemed non-viable, which could result in loss of principal and interest.

The Notes are not insured by Canadian or U.S. deposit insurance schemes, will not be listed on any securities exchange, and are subject to CIBC’s credit risk. The price to the public is $1,000 per Note, with an underwriting discount of up to $10.00 per $1,000 and proceeds to CIBC of at least $990.00 per $1,000; certain fee-based advisory accounts may pay between $990.00 and $1,000.00 per Note.

Canadian Imperial Bank of Commerce is issuing $1,500,000 aggregate principal amount of senior unsecured 5.00% Callable Notes due January 23, 2036 under its global medium-term note program. The Notes pay interest at a fixed 5.00% per year, with semi-annual payments on January 23 and July 23, starting July 23, 2026, and repay 100% of principal at maturity if not redeemed earlier.

CIBC may, at its option, redeem the Notes in whole (but not in part) at 100% of principal plus accrued interest on January 23 of each year from 2028 through 2035. The public offering price is $1,000 per Note, with an underwriting discount of $11.83 per $1,000, resulting in proceeds to CIBC of $1,482,255 before expenses. The Notes will not be listed on any exchange and are subject to CIBC’s credit risk.

The Notes are designated as bail-inable debt securities under Canadian law, meaning they can be converted, in whole or in part, into CIBC (or affiliate) common shares or varied or extinguished if Canadian resolution authorities exercise bank resolution powers. The filing highlights risks including early redemption, limited liquidity, potential price volatility, credit risk of the Bank, and complex U.S. and Canadian tax and bail-in considerations.

Canadian Imperial Bank of Commerce is issuing $2,453,000 of senior unsecured 4.20% Callable Notes due January 22, 2030. Investors receive semi-annual interest payments on January 22 and July 22, starting July 22, 2026, with principal repaid at maturity if the notes are not redeemed earlier.

CIBC may redeem the notes at 100% of principal plus accrued interest, in whole but not in part, on January 22 of 2027, 2028 or 2029. The notes are part of CIBC’s global medium-term note program, are not insured by any deposit insurer and will not be listed on an exchange, so liquidity may be limited.

The notes are designated as bail-inable debt securities, meaning they can be converted into CIBC (or affiliate) common shares or varied or extinguished under Canadian bank resolution powers if the bank becomes non-viable, which could result in loss of all or part of the investment. The original issue price is $1,000 per note, with CIBC receiving approximately $2.43 million in proceeds after underwriting discounts.

Canadian Imperial Bank of Commerce is offering Digital S&P 500® Index-Linked Notes due May 10, 2028, with a total principal amount of $6,546,000. The notes do not pay interest and your return depends entirely on the S&P 500® Index level on the May 8, 2028 determination date.

For each $1,000 note, if the index finish level is at least 85.00% of the initial level of 6,940.01, you receive a fixed $1,187.40, capping your upside. If the index falls more than 15.00%, your payoff drops below $1,000 based on a buffer rate of approximately 117.65%, and you can lose up to your entire investment.

The notes are unsecured obligations of CIBC, are not insured by any deposit insurance agency, and will not be listed on an exchange. The price to the public is 100.00% of principal with no agent’s commission, and CIBC’s estimated value on the trade date is $995.30 per $1,000, reflecting embedded selling, structuring and hedging costs.

Canadian Imperial Bank of Commerce (CIBC) is issuing $10,000,000 of senior unsecured 4.00% callable notes maturing on January 22, 2029. Investors receive semi-annual interest at 4.00% per year, paid on January 22 and July 22, starting July 22, 2026, with a minimum denomination of $1,000 per note.

CIBC may redeem the notes early, in whole but not in part, at 100% of principal plus accrued interest on January 22, 2027 or January 22, 2028. The notes are issued at 100.00% of principal to the public, with an underwriting discount of $5.50 per $1,000 and expected proceeds to CIBC of $9,945,000.

The notes are bail-inable debt securities, meaning they can be converted into CIBC common shares or varied or extinguished under Canadian bank resolution powers if CIBC becomes non-viable. They are not insured by Canadian or U.S. deposit insurance, will not be listed on any exchange, and carry risks related to CIBC’s credit, limited liquidity, potential price declines in secondary trading, conflicts of interest, and complex U.S. and Canadian tax treatment.

Canadian Imperial Bank of Commerce is offering capped leveraged buffered notes linked to the S&P 500® Index, maturing in January 2028. Each note has a $1,000 principal amount and provides 200% upside exposure to Index gains, but returns are capped at a Maximum Return of at least 23.10%, set on the trade date.

If the Index falls, a 10% buffer absorbs the first 10% of losses; below that, investors lose 1% of principal for each additional 1% Index decline, for a potential loss of up to 90% of principal. The notes pay no interest, are unsecured senior debt of CIBC, and will not be listed on any exchange. The initial estimated value is expected to be between $976.80 and $996.80 per $1,000, reflecting embedded costs and hedging.

Canadian Imperial Bank of Commerce (CIBC) is offering two new series of senior unsecured U.S. dollar notes under a preliminary prospectus supplement: floating rate senior notes and fixed-to-floating rate senior notes. The floating rate notes pay interest quarterly at a rate tied to compounded SOFR plus a margin until maturity. The fixed-to-floating notes pay a fixed rate semi-annually until a reset date in 2026, then switch to a quarterly floating rate based on compounded SOFR plus a margin until maturity.

The notes rank equally with CIBC’s other unsecured and unsubordinated debt, are not covered by any sinking fund, and will not be insured by Canadian or U.S. deposit insurers. They are designated as “bail-inable notes,” meaning they can be converted into common shares or written down under Canadian bank resolution powers if the bank becomes non-viable. The notes are expected to clear through DTC, Clearstream and Euroclear, will not be listed on an exchange, and may be redeemed early by CIBC in several circumstances. CIBC expects to use the net proceeds for general corporate purposes.

Canadian Imperial Bank of Commerce (CIBC) is offering 1,977,113 market-linked notes, called Autocallable Strategic Accelerated Redemption Securities, at $10.00 per unit, for total public offering proceeds of $19,771,130.00. The notes are linked to the Russell 2000® Index and may be automatically called on scheduled Observation Dates if the Index is at or above the Starting Value of 2,674.557, paying call amounts between $10.835 and $14.175 per unit depending on the year.

If the notes are not called and the Ending Value is at or above the Threshold Value of 2,273.373 (85.00% of the Starting Value), investors receive only the $10.00 principal back. If the Index falls below the Threshold Value at maturity, investors have 1‑to‑1 downside exposure beyond the 15.00% buffer, with up to 85.00% of principal at risk. The notes pay no periodic interest, offer limited liquidity, and all payments depend on CIBC’s credit. The initial estimated value is $9.70 per unit, below the public offering price.

Canadian Imperial Bank of Commerce is offering Autocallable Leveraged Index Return Notes linked to the Russell 2000 Index. The notes are issued in 445,195 units at $10 principal per unit, for a total public offering price of $4,451,950, with proceeds to CIBC of $9.80 per unit after a $0.20 underwriting discount.

The notes have a scheduled maturity of January 26, 2029 and an observation date on January 22, 2027. They are automatically called at $11.00 per unit (including a $1.00 call premium) if the Index is at or above the Starting Value of 2,674.557 on the observation date. If not called, at maturity investors receive principal back if the Ending Value is at or above the Starting Value, or gain 203.00% of any Index increase; if the Index declines, losses match the Index decline on a 1-to-1 basis, up to 100% loss of principal.

The initial estimated value is $9.728 per unit, below the $10 offering price, reflecting CIBC’s internal funding rate, a $0.20 underwriting discount, and a $0.05 hedging-related charge. The notes pay no interest, do not provide dividends, are unsecured obligations of CIBC, and have limited expected secondary market liquidity, exposing investors to both market risk in the Index and CIBC’s credit risk.

Canadian Imperial Bank of Commerce is issuing senior unsecured market‑linked notes tied to the lowest performer among Amazon, Alphabet Class A, and NVIDIA, maturing January 19 2029. The notes are sold at $1,000 each, for a total offering of $8,002,000, with an underwriting discount of $23.25 per note and proceeds to CIBC of about $7.8 million. Investors can receive quarterly contingent coupons at 12.75% per annum only if, on each determination date, the lowest‑performing stock is at or above its coupon threshold, set at 50% of its starting price, with missed coupons potentially paid later under a “memory” feature.

The notes are auto‑callable quarterly from July 2026 through October 2028 if the lowest stock is at or above its full starting price, in which case investors get principal plus the due coupon(s). If never called, principal is repaid at maturity only if the lowest stock stays at or above its 50% downside threshold; otherwise, investors lose more than half, up to all, of principal and do not share in any stock gains. The securities are not listed, pay no dividends, and all payments depend on CIBC’s credit. CIBC’s own estimated value is $947.30 per note, below the $1,000 issue price.

Canadian Imperial Bank of Commerce is issuing $2,823,000 of 5.20% senior unsecured callable notes due January 7, 2041 under its global medium-term note program. Investors receive semi-annual interest at 5.20% per annum, paid each January 21 and July 21 starting July 21, 2026, with principal repaid at maturity if the notes are not redeemed earlier. CIBC may redeem the notes at 100% of principal plus accrued interest on January 21 of each year from 2029 through 2040, which could limit the total interest earned and force reinvestment at lower rates. The notes are bail-inable under the Canada Deposit Insurance Corporation Act, meaning they can be converted into CIBC common shares or written down in a Canadian resolution scenario, creating a risk of partial or total loss. The price to the public is $1,000 per note, with a 2.00% underwriting discount, resulting in $2,766,540 in proceeds to CIBC before hedging costs and expenses, and the notes will not be listed on any securities exchange.

Canadian Imperial Bank of Commerce is issuing senior unsecured market-linked notes that pay a high contingent coupon and expose principal to stock performance. Each $1,000 security is linked to the worst performer among Amazon.com, Alphabet Class A and Meta Platforms Class A, with a 17.50% per annum contingent coupon paid quarterly only if the lowest-performing stock closes at or above 70% of its starting price; missed coupons may be paid later under a “memory” feature.

The notes can be automatically called quarterly from July 2026 through October 2028 if the worst-performing stock is at or above its starting price, in which case holders receive $1,000 plus the due and unpaid coupons. If not called, at maturity in January 2029 investors receive $1,000 only if the worst stock is at or above 70% of its starting price; otherwise the payoff is $1,000 multiplied by that stock’s performance, so losses can exceed 30% and reach total loss. The notes do not participate in any upside of the stocks, pay no dividends, carry CIBC credit risk, and have an estimated value of $952.90 per $1,000 versus a $1,000 original offering price.

Canadian Imperial Bank of Commerce is issuing $5,167,600 of Capped Buffer GEARS, senior unsecured notes linked to the S&P 500® Index, maturing on January 19, 2028. Each Note has a $10 principal amount and offers 2.00x leveraged upside on positive index performance, capped at a 22.88% maximum gain.

The structure includes a 10% buffer: if the index decline is within 10%, investors receive full principal back at maturity. If the S&P 500 falls more than 10%, principal is reduced 1% for each additional 1% drop, for a potential loss of up to 90%. The Notes pay no interest, are not listed on an exchange and depend entirely on CIBC’s credit; the bank’s initial estimated value is $9.968 per $10 Note.

Canadian Imperial Bank of Commerce is offering $5,282,030 of Capped Buffer GEARS, senior unsecured notes linked to the S&P 500® Index and maturing on January 19, 2028. Each note has a $10 principal amount and offers 2.00x participation in any positive index return, capped at a Maximum Gain of 18.70%.

If the index is flat or down but stays at or above 90% of its initial level (a 10% Buffer), investors receive full principal back at maturity. If the index falls more than 10%, investors lose 1% of principal for each 1% additional decline, for a potential loss of up to 90% of principal. The notes pay no interest, do not pay dividends, are not listed on an exchange, and all payments depend on CIBC’s credit. The initial estimated value is $9.768 per $10 note, below the public offering price.

Canadian Imperial Bank of Commerce is offering Trigger GEARS, five-year senior unsecured notes linked to an unequally weighted global equity index basket. The basket assigns 45.00% to the S&P 500® Index, 22.00% to the EURO STOXX 50® Index, 13.75% to the Nikkei Stock Average Index, 9.625% to the FTSE® 100 Index, 5.50% to the Swiss Market Index® and 4.125% to the S&P®/ASX 200 Index.

Each note has a $10 principal amount (minimum investment $1,000) and pays no interest. At maturity on January 30, 2031, if the basket return is positive, holders receive $10 plus the basket return multiplied by an upside gearing between 1.20 and 1.31, set on the trade date. If the basket return is between 0% and -25%, CIBC repays the $10 principal. If the basket return is below -25%, repayment is reduced one-for-one with the negative basket return, up to a total loss of principal.

The price to the public is $10.00 per note, including a $0.35 underwriting discount, for issuer proceeds of $9.65 per note. The initial estimated value is expected to be between $9.200 and $9.585 per $10 note. Payments depend on CIBC’s credit, the notes are not insured or bail-inable, and they will not be listed on any exchange.

Canadian Imperial Bank of Commerce is offering $17,355,000 of Capped Leveraged Buffered Notes linked to the S&P 500® Index, maturing on January 14, 2028. Each $1,000 note provides 200% leveraged upside on any Index gains, but total return is capped at a Maximum Return of 19.60%, so the maximum Payment at Maturity is $1,196 per note.

If the Index falls by up to 15% from the Initial Level of 6,944.47, investors receive their $1,000 principal back. Below that 15% buffer, losses are 1-to-1 with further Index declines, so investors can lose up to 85% of principal. The notes pay no interest, are unsecured senior debt of CIBC, are not insured by any deposit insurer, and will not be listed on an exchange. The price to public is $1,000 per note, including a $1.50 selling commission, while the Bank’s initial estimated value is $991.50.

Canadian Imperial Bank of Commerce is offering complex senior unsecured market-linked notes tied to the worst performer of General Motors, Micron Technology and Tesla, maturing on January 26, 2029. Each security has a $1,000 face amount and can pay a monthly contingent coupon at a rate of at least 22.08% per annum, but only when the lowest-performing stock on a determination date is at or above 50% of its starting price; missed coupons can be “remembered” and paid later if the condition is met.

The notes are auto-callable monthly starting around July 2026 if the lowest-performing stock is at or above its starting price, in which case investors receive $1,000 plus the applicable coupons. If the notes are not called and, on the final calculation day, the lowest-performing stock has fallen below 50% of its starting price, investors lose more than 50% and up to all of principal; even if all stocks rise, upside is capped at return of face amount plus coupons.

The securities are unsecured obligations of CIBC, carry CIBC credit risk, will not be listed on an exchange and may have limited or no secondary market. The original offering price is $1,000 per security, while CIBC’s estimated value on the pricing date is expected to be at least $900, reflecting selling, structuring and hedging costs.

Canadian Imperial Bank of Commerce is offering $5,500,000 of senior unsecured 4.40% Callable Notes due January 16, 2031. The notes pay 4.40% interest per year, with semi-annual payments on January 16 and July 16, starting July 16, 2026. At maturity, if not redeemed earlier, holders receive 100% of principal plus accrued interest.

CIBC can redeem the notes at 100% of principal plus accrued interest on January 16 of 2028, 2029, and 2030. The price to the public is $1,000 per note, with an underwriting discount of $6.71 per $1,000 and net proceeds to CIBC of $5,463,095. The notes are bail-inable under Canadian bank resolution powers, are not insured by deposit insurance schemes, will not be listed on any exchange, and may have limited or no secondary market liquidity.

Canadian Imperial Bank of Commerce is issuing $5,000,000 aggregate principal amount of 5.10% senior unsecured callable notes due January 20, 2038. Investors receive semiannual interest at 5.10% per year, paid on January 20 and July 20, starting July 20, 2026, with principal repaid at maturity if the notes are not redeemed earlier.

CIBC may redeem the notes at 100% of principal plus accrued interest on January 20 of each year from 2028 through 2037. The original price to the public is $1,000 per note, with CIBC receiving net proceeds of $4,918,500 after a $81,500 underwriting discount. The notes are bail-inable under Canadian bank resolution powers, are not insured by any deposit insurer, will not be listed on an exchange, and their value and payments depend on CIBC’s creditworthiness.

Canadian Imperial Bank of Commerce is offering senior unsecured medium-term notes that pay a fixed 5.25% annual coupon and are scheduled to mature on January 30, 2041, unless redeemed earlier. Interest is paid once a year on January 30, starting in 2027, on minimum denominations of $1,000 per note.

CIBC can call the notes at par plus accrued interest on any interest payment date from January 30, 2029 through January 30, 2040, which could limit how long investors receive the 5.25% rate. The notes will not be listed on any securities exchange, so liquidity may be limited and resale prices could be below the original price.

The notes are senior unsecured obligations of CIBC and are designated as bail-inable debt securities, meaning they can be converted into CIBC (or affiliate) common shares or written down under Canadian bank resolution powers if the bank becomes non-viable. The price to the public is $1,000 per note, with an underwriting discount of up to $30 (3.00%) and proceeds to CIBC of at least $970 per note. U.S. and Canadian tax sections describe interest as generally taxable income and outline key withholding and capital gains considerations.

Canadian Imperial Bank of Commerce plans to issue senior global medium-term notes paying 5.45% annual interest, maturing on January 30, 2046. Interest is paid once a year on January 30, starting in 2027, with repayment of 100% of principal at maturity if the notes have not been redeemed earlier.

CIBC can redeem the notes at par, plus accrued interest, on any January 30 from 2029 through 2045, which could limit how long investors receive the 5.45% coupon. The notes are unsecured, not insured by any deposit insurance agency, will not be listed on an exchange, and are issued in $1,000 minimum denominations. They are designated as bail-inable debt, meaning they can be converted into CIBC common shares or written down under Canadian bank resolution powers, so investors face both CIBC credit risk and potential loss of principal in a resolution scenario. The price to the public is $1,000 per note, with an underwriting discount of up to $40 (4.00%) and proceeds to CIBC of at least $960 per $1,000 note.

Canadian Imperial Bank of Commerce is issuing senior unsecured 5.10% Callable Notes due January 29, 2038. These notes pay a fixed 5.10% annual interest rate, with interest paid semi-annually on January 29 and July 29, starting July 29, 2026, and repay 100% of principal at maturity if not redeemed earlier.

CIBC may redeem the notes at its option at 100% of principal plus accrued interest on January 29 of each year from 2028 through 2037. The notes are bail-inable debt under Canadian law, meaning they can be converted, in whole or in part, into common shares of CIBC or its affiliates if Canadian resolution powers are exercised.

The notes are senior unsecured obligations of CIBC, are not insured by Canadian or U.S. deposit insurance agencies, will not be listed on any securities exchange, and are offered in minimum denominations of $1,000. They carry specific U.S. and Canadian tax treatments and involve credit, liquidity, market and structural risks described in the risk factors sections.

Canadian Imperial Bank of Commerce is offering senior unsecured global medium-term notes that pay a fixed 4.45% coupon and are scheduled to mature on January 30, 2031, unless redeemed earlier. Investors receive semi-annual interest payments on January 30 and July 30 of each year, starting July 30, 2026, and repayment of 100% of principal at maturity if the notes have not been called or converted.

CIBC can redeem the notes at its option in whole, but not in part, on January 30 of 2028, 2029 and 2030 at 100% of principal plus accrued interest, creating reinvestment and call risk for investors. The notes are issued in minimum denominations of $1,000, carry an original issue price of $1,000 per note with an underwriting discount of up to $15 per $1,000, and will not be listed on any securities exchange. They are unsecured obligations of CIBC, subject to Canadian bail-in powers that may convert them into common shares or extinguish them in a resolution scenario, and are neither CDIC nor FDIC insured.

Canadian Imperial Bank of Commerce is offering senior unsecured medium-term notes linked to the S&P 500® Index. Each note has a $1,000 principal amount and pays fixed semi-annual interest of at least $30.00 per $1,000 (at least 6.00% per year) until maturity or automatic call, regardless of index performance.

The notes can be called early if, on specified semi-annual observation dates, the index level is at or above its initial level. If called, investors receive principal plus the applicable interest payment, but no further interest, creating reinvestment risk. If held to maturity and the final index level is at or above 80% of the initial level, investors receive full principal back; if it is below that 20% buffer, repayment is reduced so that investors lose 1.25% of principal for each 1.00% index decline beyond 20%, and could lose their entire principal even after interest.

The initial estimated value is expected to be at least $956.50 per $1,000, less than the price to the public, reflecting selling, structuring and hedging costs. The notes are subject to CIBC’s credit risk, are not insured by any deposit insurer, will not be listed on an exchange, may have limited secondary liquidity, and involve complex and uncertain U.S. and Canadian tax treatment.

Canadian Imperial Bank of Commerce is issuing senior unsecured medium-term notes that pay a fixed coupon of 5.05% per year, with a potential bonus in the first year linked to Compounded SOFR. From the original issue date to January 29, 2027, interest will be 5.15% if Compounded SOFR on the January 22, 2027 valuation date is below 5.05%, and 5.05% if it is at or above 5.05%. From January 29, 2027 to the expected January 29, 2036 maturity, the rate is 5.05%.

The notes pay interest annually on January 29, beginning in 2027, in minimum denominations of $1,000, and return 100% of principal at maturity if not called and CIBC meets its obligations. CIBC may redeem the notes at par plus accrued interest on each annual interest payment date from January 29, 2031 through January 29, 2035. The price to the public is $1,000 per note, with an underwriting discount of up to $15 and proceeds to CIBC of at least $985 per $1,000. The notes are not insured, will not be listed on any exchange, and their value and payments are subject to CIBC’s credit risk and to SOFR-related benchmark and market risks.

Canadian Imperial Bank of Commerce plans to issue senior global medium-term notes in the form of 4.00% callable notes due January 22, 2029. These notes pay interest at a fixed 4.00% per year, with semi-annual payments on January 22 and July 22 starting July 22, 2026, and return 100% of principal at maturity if they have not been redeemed earlier.

CIBC can redeem the notes early, in whole but not in part, at par plus accrued interest on January 22, 2027 or January 22, 2028. The notes are senior, unsecured obligations of CIBC, are not insured by any deposit insurer, will not be listed on an exchange, and may have limited or no secondary market. They are bail-inable under Canadian bank resolution powers, meaning they can be converted into CIBC common shares or varied or extinguished if regulators act under the CDIC Act, which could lead to partial or total loss of principal and interest. U.S. and Canadian tax sections describe the expected debt treatment for U.S. holders and key Canadian non-resident rules.

Canadian Imperial Bank of Commerce is offering 5-year Trigger GEARS notes linked to the EURO STOXX 50® Index. Each note has a $10 principal amount, with a minimum investment of $1,000. At maturity, if the index return is positive, investors receive $10 plus the index gain multiplied by an Upside Gearing set in a 1.5800–1.7825 range. If the index return is between 0% and -25%, investors receive only the $10 principal. If the index return is below -25%, repayment is reduced 1-for-1 with the index loss, up to a total loss of principal.

The notes pay no interest, do not include dividends from index stocks, and are unsecured senior debt subject to CIBC’s credit risk. They are not insured by CDIC or FDIC and will not be listed on an exchange, so liquidity may be limited. The initial estimated value is expected to be $9.163–$9.563 per $10 note, versus a $10 price to the public, with an underwriting discount of $0.35 and proceeds to CIBC of $9.65 per note.

Canadian Imperial Bank of Commerce is offering $3,566,400 of trigger autocallable notes linked to the S&P 500® Index, maturing on January 18, 2028. The notes can be automatically called quarterly starting July 13, 2026 if the index closes at or above the initial level of 6,963.74, paying $10 principal plus an increasing call return based on an 8.75% per annum rate, up to $11.75 at the final date. If the notes are not called and the final index level is at or above the downside threshold of 5,570.99 (80% of the initial level), investors receive full principal back; below that level, repayment is reduced in line with the index decline, with up to 100% loss of principal. The notes pay no interest, are unsecured and unsubordinated obligations of CIBC, are not insured or exchange-listed, and their initial estimated value is $9.824 per $10.

Canadian Imperial Bank of Commerce is offering trigger autocallable notes linked to the S&P 500 Index with a term of about two years and a minimum investment of $1,000 in $10 denominations. The notes can be automatically called quarterly starting July 13, 2026 if the index closes at or above its initial level, paying a call amount that combines principal plus a call return based on a rate of at least 8.50% per annum.

If the notes are never called and the final index level on January 13, 2028 is at or above a downside threshold set at 80.00% of the initial level, holders receive full principal back at maturity. If the final level is below that threshold, repayment is reduced in proportion to the index decline, up to a total loss of principal. The notes pay no interest, do not participate in any index upside beyond the fixed call return, and expose holders to both S&P 500 market risk and CIBC credit risk. The initial estimated value is expected between $9.610 and $9.810 per $10 note, below the $10.00 price to the public.

Canadian Imperial Bank of Commerce is offering senior unsecured 5.20% callable notes due January 7, 2041 as part of its global medium-term note program. Each Note has a $1,000 principal amount, pays interest at a fixed 5.20% per year, and pays coupons semi-annually on January 21 and July 21, starting July 21, 2026, until maturity or earlier redemption.

CIBC may redeem the Notes in whole, but not in part, at 100% of principal plus accrued interest on January 21 of each year from 2029 through 2040, which could end interest payments earlier than expected. The price to public per Note is $1,000, with an underwriting discount of up to $20, so CIBC receives at least $980 per $1,000 Note before its own costs.

The Notes are not listed on any exchange, are not insured by Canadian or U.S. deposit insurers, and are subject to CIBC’s credit risk. They are also bail-inable under Canadian bank resolution powers, meaning they can be converted into common shares or written down if CIBC becomes non-viable, potentially causing loss of principal and interest.

Canadian Imperial Bank of Commerce is offering $24,862,000 of Digital S&P 500® Index-Linked Notes due February 24, 2028. These unsecured notes do not pay interest and the amount repaid at maturity depends on the S&P 500® Index level on February 22, 2028 versus the initial level of 6,921.46.

If the index is at or above 85% of its initial level, investors receive a fixed $1,175 per $1,000 principal amount, a 17.5% capped gain. If the index falls more than 15%, repayment drops according to a leveraged downside formula and can be reduced to zero, meaning investors can lose their entire investment.

The bank’s estimated value on the trade date is $998.90 per $1,000 note, reflecting selling, structuring and hedging costs. The notes are subject to CIBC’s credit risk, are not insured, and will not be listed on any securities exchange, so liquidity may be limited.

Canadian Imperial Bank of Commerce is offering senior unsecured Capped Leveraged Buffered Notes linked to the S&P 500® Index, maturing in January 2028. For each $1,000 note, investors get 200% leveraged upside on any Index gain, but the total return is capped at a Maximum Return of at least 19.00%, to be set on the trade date.

If the Index falls up to 15%, investors receive back $1,000; below this 15% buffer, they lose 1% of principal for each additional 1% decline, for a possible loss of up to 85% of principal. The notes pay no interest, do not provide Index dividends, will not be listed on an exchange, and are subject to the credit risk of CIBC. The initial estimated value per $1,000 is expected to be between $966.80 and $991.20, below the price to public, and selling agents may receive a commission of up to $1.50 per $1,000 note.

Canadian Imperial Bank of Commerce is offering Digital S&P 500® Index-Linked Notes that pay no interest and repay an amount at maturity based on S&P 500® Index performance over roughly 27–30 months. Each note has a $1,000 principal amount.

If the final index level is at least 85.00% of the initial level, holders receive a fixed threshold settlement amount, expected to be between $1,158.80 and $1,186.80 per $1,000 note, capping upside even if the index rises further. If the index falls more than 15.00%, repayment is reduced using a buffer rate of approximately 117.65%, and investors can lose up to their entire principal.

The bank’s estimated value on the trade date is expected to be between $975.30 and $995.30 per note, below the $1,000 issue price due to selling, structuring and hedging costs. The notes are unsecured obligations of CIBC, are not insured by Canadian or U.S. deposit insurers, will not be bail-inable, and are not expected to be listed on any securities exchange.

Canadian Imperial Bank of Commerce is offering senior unsecured global medium-term notes that pay a fixed 4.10% annual coupon and are scheduled to mature on January 26, 2029, unless redeemed earlier. Interest is paid once a year on January 26, starting in 2027, with repayment of 100% of principal at maturity if the notes are still outstanding.

CIBC may call the notes at par, in whole but not in part, on January 26, 2027 or January 26, 2028, paying principal plus accrued interest, so investors face reinvestment risk if rates fall. The notes are issued in $1,000 minimum denominations, are not listed on any exchange, and are subject to the credit risk of CIBC.

The notes are designated as bail-inable debt securities under Canadian law, meaning they can be converted, in whole or in part, into common shares of CIBC or its affiliates, or varied or extinguished, if Canadian resolution powers are exercised. Underwriting discounts can be up to $5.00 per $1,000 principal amount, with proceeds to CIBC of at least $995.00 per note.

Canadian Imperial Bank of Commerce is offering senior unsecured global medium-term notes paying a fixed 4.20% annual coupon, with interest paid semi-annually on January 22 and July 22 from July 22, 2026 until an expected maturity on January 22, 2030, if not redeemed earlier.

CIBC may call the notes at par, in whole but not in part, on January 22 of 2027, 2028 or 2029, paying 100% of principal plus accrued interest. The notes are not listed on any securities exchange and may have limited secondary market liquidity.

The notes are senior unsecured obligations of CIBC, are not insured by any deposit insurer, and are issued as bail‑inable debt, meaning they may be converted into common shares or varied or extinguished under Canadian bank resolution powers if the bank becomes non‑viable. The notes are offered in $1,000 minimum denominations, with the public offering price generally at $1,000 per note and an underwriting discount of up to $10 per $1,000.

Canadian Imperial Bank of Commerce is offering senior unsecured 5.00% callable notes due January 23, 2036 as part of its global medium-term note program. The notes pay interest semi-annually on January 23 and July 23 each year, starting July 23, 2026, with a fixed 5.00% annual coupon and repayment of 100% of principal at maturity if they have not been redeemed earlier.

CIBC may redeem the notes at its option, in whole but not in part, on January 23 of each year from 2028 through 2035 at 100% of principal plus accrued interest, which could stop future interest payments and force reinvestment at then-current rates. The notes are issued in minimum denominations of $1,000 in U.S. dollars, will not be listed on any securities exchange, and are subject to the credit risk of CIBC.

The notes are designated as bail-inable debt under the Canada Deposit Insurance Corporation Act, meaning that if CIBC becomes non-viable, they can be converted, in whole or in part, into common shares of CIBC or an affiliate or varied or extinguished under Canadian bank resolution powers. Investors also face potential tax consequences under U.S. and Canadian law and should review the detailed risk factors and tax sections before investing.

Canadian Imperial Bank of Commerce is offering US$700,000,000 of 6.500% Fixed Rate Reset Limited Recourse Capital Notes Series 9, maturing on July 28, 2086. The notes pay a fixed 6.500% annual coupon until July 28, 2031, then reset every five years to the U.S. Treasury rate plus 2.727%, with interest paid quarterly starting April 28, 2026.

The notes are deeply subordinated “Additional Tier 1” capital and are limited‑recourse: if CIBC fails to pay principal, interest or redemption price, investors receive only their share of assets in a trust, initially 700,000 non‑cumulative Class A Preferred Shares Series 64. On a regulatory “Trigger Event,” those preferred shares convert into common shares, which are then delivered to noteholders, fully extinguishing claims on the notes.

The bank may redeem the notes at par plus accrued interest on the 2031 reset date, on quarterly dates thereafter, or after specified tax or regulatory events, all with regulatory approval. The public offering price is 100.000% of principal, generating underwriting commissions of US$7,000,000 and net proceeds of US$693,000,000 for general corporate purposes, including potential redemption of other capital securities.

Canadian Imperial Bank of Commerce is offering S&P 500® Index-linked structured notes that pay no interest and mature on March 8, 2028. Each note has a $1,000 principal amount, with a total offering size of $3,074,000.

Your payoff depends on the S&P 500® performance between the trade date and March 6, 2028. If the index rises, you get 150% of the index gain, but returns are capped at a maximum settlement amount of $1,252.45 per $1,000 note. If the index falls by up to 15%, you receive back $1,000.

If the index falls more than 15%, losses accelerate using a buffer rate of about 117.65% beyond that threshold, and you could lose your entire investment. The notes are unsecured obligations of CIBC, are not insured or bail-inable, will not be listed on any exchange, and the bank’s estimated value on the trade date is $995 per note, below the $1,000 issue price.

Canadian Imperial Bank of Commerce is offering senior unsecured 4.00% Callable Notes with a bonus coupon linked to Compounded SOFR, maturing on January 23, 2029. The notes pay annual interest, starting January 23, 2027. For the first interest period, the rate is 4.10% if Compounded SOFR on the January 15, 2027 valuation date is below 4.00%, or 4.00% if it is at or above 4.00%. Thereafter, the rate is 4.00% per year.

CIBC may redeem the notes early, in whole but not in part, on the interest payment dates in 2027 and 2028 at 100% of principal plus accrued interest. The notes are issued in $1,000 minimum denominations, are not listed on any exchange, and carry underwriting discounts of up to $5.00 (0.50%) per $1,000, with at least $995.00 per $1,000 in proceeds to CIBC. Investors face CIBC’s credit risk, potential price volatility from interest rate and credit spread changes, uncertainty around SOFR’s future, and limited liquidity.

Canadian Imperial Bank of Commerce is offering senior unsecured medium-term notes that pay a fixed 5.40% annual coupon and are scheduled to mature on January 7, 2041, unless redeemed earlier. Interest is paid in cash twice a year, on January 21 and July 21, starting July 21, 2026, on minimum denominations of $1,000.

CIBC can redeem the notes at its option at 100% of principal plus accrued interest on January 21 of each year from 2029 through 2040, which may limit the total income you receive. The notes are not listed on any exchange, are subject to the Canadian bail-in regime, and can be converted into common shares or written down if CIBC becomes non-viable, so repayment depends on CIBC’s credit and regulatory outcomes.

Canadian Imperial Bank of Commerce is issuing $17,000,000 of 4.15% senior callable notes due January 8, 2029 under its global medium-term note program. Investors receive semi-annual interest at 4.15% per year, paid each January 8 and July 8 from July 8, 2026 until maturity, unless the notes are redeemed earlier at 100% of principal plus accrued interest.

CIBC can redeem the notes in full on January 8, 2027 or January 8, 2028, which could cut off future interest if rates fall. The notes are senior unsecured, not insured by any deposit insurer, will not be listed on an exchange, and are designated bail-inable, meaning they can be converted into CIBC common shares or written down under Canadian bank resolution powers, so holders bear CIBC’s credit and regulatory resolution risk. The public offering price is $1,000 per note, with net proceeds to CIBC of $16,956,990 after underwriting discounts.

Canadian Imperial Bank of Commerce is offering senior unsecured Capped Buffer GEARS linked to the S&P 500® Index, maturing on or about January 19, 2028. The Notes provide 2.00x leveraged upside on any positive index return, subject to a Maximum Gain to be set on the trade date in a range of 21.25%–23.25%. A 10% buffer protects principal only if the index decline does not exceed 10%; below a 90% Downside Threshold, investors lose 1% of principal for each 1% further decline, for a potential loss of up to 90% of principal. The Notes pay no interest, do not provide dividends on the S&P 500 stocks, and must be held to maturity to fully benefit from the payoff terms. All payments depend on CIBC’s creditworthiness, and the initial estimated value per $10 Note ($9.662–$9.995) is expected to be below the $10 price to public.

Canadian Imperial Bank of Commerce (CIBC) is offering senior unsecured structured notes called Capped Buffer GEARS linked to the S&P 500® Index. Each Note has a $10 principal amount, a term of about two years and is expected to mature on or about January 19, 2028.

If the S&P 500 shows a positive return at maturity, investors receive their principal plus 2x the index gain, capped by a Maximum Gain between 17.00% and 19.00% to be set on the trade date. If the index return is zero or negative but the final level is at or above 90% of the initial level, investors receive full principal back.

If the index falls below this 10% buffer, repayment is reduced 1% for every 1% decline beyond the buffer, so investors may lose up to 90% of principal. The Notes pay no interest and do not provide dividends. The initial estimated value is expected to be $9.450–$9.800 per $10 Note, below the $10.00 price to the public, with an underwriting discount of $0.20 per Note and proceeds to CIBC of $9.80 per Note. All payments depend on CIBC’s credit.

Canadian Imperial Bank of Commerce is offering U.S. dollar fixed rate reset Limited Recourse Capital Notes Series 9, structured to qualify as Additional Tier 1 capital under Canadian bank rules. The notes pay non-deferrable quarterly interest until a reset date, after which the rate resets every five years based on the U.S. Treasury rate plus a spread. They are backed on a limited recourse basis by Non‑Cumulative 5‑Year Fixed Rate Reset Class A Preferred Shares Series 64 held in a trust.

If CIBC fails to pay principal, interest or redemption amounts when due, an event of default occurs, or a regulatory “Trigger Event” is declared, holders’ sole remedy is delivery of their proportionate share of the trust assets, which may be preferred shares or common shares after an automatic NVCC conversion. The notes are deeply subordinated; as of October 31, 2025, CIBC had approximately $1,052.5 billion of higher ranked indebtedness, including deposits, ahead of them. The notes are callable at specified reset, tax or regulatory dates with regulatory approval, are not insured, will not be listed, and are targeted to qualified institutional investors rather than retail buyers in the EEA or UK. Net proceeds will be used for general corporate purposes, which may include redeeming outstanding capital securities or other liabilities.