[FWP] Canadian Imperial Bank of Commerce Free Writing Prospectus
Canadian Imperial Bank of Commerce (CIBC) has filed a Free Writing Prospectus for Accelerated Return Notes (ARNs) linked to the Russell 2000 Index. Each unit is priced at $10 and carries a tenor of approximately 14 months. The notes provide a 300 % participation rate, delivering 3-to-1 upside on any positive index performance, but gains are capped at a Capped Value of $11.575-$11.975 per unit, equating to a maximum total return of 15.75 %-19.75 %.
Risk/return trade-off: Investors absorb 1-to-1 downside exposure on index losses and may lose up to 100 % of principal. The initial estimated value will be below the public offering price, secondary market liquidity may be limited, and the notes will not be exchange-listed. Payments depend on CIBC’s creditworthiness; a default would leave holders with no recovery. Investors also waive dividend rights and accept small-cap volatility inherent in the Russell 2000.
Target investor profile: The product suits investors who expect a moderate rise in the Russell 2000 over 14 months, are comfortable with a return cap, and can tolerate full principal risk and lack of interim income. It is not appropriate for those seeking capital preservation, dividend income, or uncapped equity exposure.
Key documentation: Full terms, tax considerations and risk factors are contained in the linked preliminary prospectus, product supplement and prospectus filed under SEC Registration No. 333-272447.
Canadian Imperial Bank of Commerce (CIBC) ha presentato un Free Writing Prospectus per le Accelerated Return Notes (ARNs) collegate all'indice Russell 2000. Ogni unità ha un prezzo di 10 $ e una durata di circa 14 mesi. Le note offrono un tasso di partecipazione del 300%, garantendo un rendimento triplo su qualsiasi performance positiva dell'indice, con guadagni però limitati a un Valore Massimo compreso tra 11,575 $ e 11,975 $ per unità, corrispondente a un rendimento totale massimo del 15,75%-19,75%.
Rapporto rischio/rendimento: Gli investitori si espongono a una perdita pari a 1 a 1 in caso di ribasso dell'indice e possono perdere fino al 100% del capitale investito. Il valore iniziale stimato sarà inferiore al prezzo di offerta pubblica, la liquidità sul mercato secondario potrebbe essere limitata e le note non saranno quotate in borsa. I pagamenti dipendono dalla solidità creditizia di CIBC; in caso di default, gli investitori non avranno alcun recupero. Inoltre, gli investitori rinunciano ai diritti sui dividendi e accettano la volatilità tipica delle società a bassa capitalizzazione presenti nel Russell 2000.
Profilo dell'investitore target: Il prodotto è indicato per investitori che prevedono un aumento moderato dell'indice Russell 2000 in 14 mesi, accettano un limite massimo al rendimento e sono disposti a sostenere il rischio totale sul capitale senza ricevere reddito intermedio. Non è adatto a chi cerca preservazione del capitale, reddito da dividendi o esposizione azionaria senza limiti.
Documentazione chiave: Termini completi, considerazioni fiscali e fattori di rischio sono disponibili nel prospetto preliminare, nel supplemento al prodotto e nel prospetto completo depositati sotto il numero di registrazione SEC 333-272447.
Canadian Imperial Bank of Commerce (CIBC) ha presentado un Free Writing Prospectus para las Notas de Retorno Acelerado (ARNs) vinculadas al índice Russell 2000. Cada unidad tiene un precio de 10 $ y un plazo aproximado de 14 meses. Las notas ofrecen una tasa de participación del 300%, proporcionando un retorno triple sobre cualquier rendimiento positivo del índice, aunque las ganancias están limitadas a un Valor Máximo de $11.575-$11.975 por unidad, equivalente a un rendimiento total máximo de 15,75%-19,75%.
Relación riesgo/rendimiento: Los inversores asumen una exposición a la baja de 1 a 1 sobre las pérdidas del índice y pueden perder hasta el 100% del capital. El valor inicial estimado será inferior al precio de oferta pública, la liquidez en el mercado secundario puede ser limitada y las notas no estarán listadas en bolsa. Los pagos dependen de la solvencia crediticia de CIBC; en caso de incumplimiento, los tenedores no recuperarán nada. Además, los inversores renuncian a derechos sobre dividendos y aceptan la volatilidad inherente a las empresas de pequeña capitalización del Russell 2000.
Perfil del inversor objetivo: El producto es adecuado para inversores que esperan un aumento moderado en el Russell 2000 durante 14 meses, están cómodos con un límite en el rendimiento y pueden tolerar el riesgo total del capital sin ingresos intermedios. No es apropiado para quienes buscan preservación del capital, ingresos por dividendos o exposición accionaria sin límites.
Documentación clave: Los términos completos, consideraciones fiscales y factores de riesgo se encuentran en el prospecto preliminar vinculado, el suplemento del producto y el prospecto presentado bajo el número de registro SEC 333-272447.
캐나다 임페리얼 은행(CIBC)는 러셀 2000 지수에 연동된 가속 수익 노트(ARNs)에 대한 Free Writing Prospectus를 제출했습니다. 각 단위는 10달러에 가격이 책정되었으며, 만기는 약 14개월입니다. 이 노트는 300% 참여율을 제공하여 지수가 상승할 경우 3배의 수익을 제공하지만, 단위당 11.575달러~11.975달러의 상한 가치로 수익이 제한되며, 최대 총 수익률은 15.75%~19.75%에 해당합니다.
위험/수익 균형: 투자자는 지수 하락 시 1대1 손실을 감수하며, 원금의 100%까지 손실할 수 있습니다. 초기 추정 가치는 공모가보다 낮을 수 있으며, 2차 시장 유동성은 제한적일 수 있고, 해당 노트는 거래소 상장이 되지 않습니다. 지급은 CIBC의 신용도에 따라 달라지며, 디폴트 발생 시 투자자는 회수할 수 없습니다. 투자자는 배당권을 포기하며, 러셀 2000에 내재된 소형주 변동성도 감수해야 합니다.
목표 투자자 프로필: 이 상품은 14개월 동안 러셀 2000 지수가 완만히 상승할 것으로 예상하며, 수익 상한을 수용하고 원금 전액 손실 위험과 중간 수익 부재를 감수할 수 있는 투자자에게 적합합니다. 자본 보존, 배당 수익 또는 무제한 주식 노출을 원하는 투자자에게는 적합하지 않습니다.
주요 문서: 전체 조건, 세금 고려사항 및 위험 요소는 링크된 예비 설명서, 상품 보충서 및 SEC 등록번호 333-272447로 제출된 설명서에 포함되어 있습니다.
Canadian Imperial Bank of Commerce (CIBC) a déposé un Free Writing Prospectus concernant les Accelerated Return Notes (ARNs) liées à l'indice Russell 2000. Chaque unité est proposée au prix de 10 $ avec une durée d'environ 14 mois. Ces notes offrent un taux de participation de 300%, fournissant un rendement triple en cas de performance positive de l'indice, mais les gains sont plafonnés à une valeur maximale comprise entre 11,575 $ et 11,975 $ par unité, ce qui correspond à un rendement total maximal de 15,75 % à 19,75 %.
Relation risque/rendement : Les investisseurs supportent une exposition à la baisse de 1 pour 1 en cas de perte de l'indice et peuvent perdre jusqu'à 100 % du capital. La valeur initiale estimée sera inférieure au prix d'offre publique, la liquidité sur le marché secondaire peut être limitée, et les notes ne seront pas cotées en bourse. Les paiements dépendent de la solvabilité de CIBC ; en cas de défaut, les détenteurs ne récupéreraient rien. Les investisseurs renoncent également aux droits aux dividendes et acceptent la volatilité des petites capitalisations propres au Russell 2000.
Profil de l'investisseur cible : Ce produit convient aux investisseurs anticipant une hausse modérée du Russell 2000 sur 14 mois, acceptant un plafond de rendement et pouvant tolérer un risque total sur le capital sans revenus intermédiaires. Il n'est pas adapté à ceux recherchant la préservation du capital, des revenus de dividendes ou une exposition en actions sans plafond.
Documents clés : Les conditions complètes, considérations fiscales et facteurs de risque sont détaillés dans le prospectus préliminaire lié, le supplément produit et le prospectus déposés sous le numéro d'enregistrement SEC 333-272447.
Canadian Imperial Bank of Commerce (CIBC) hat einen Free Writing Prospectus für Accelerated Return Notes (ARNs), die an den Russell 2000 Index gekoppelt sind, eingereicht. Jede Einheit wird zu einem Preis von 10 $ angeboten und hat eine Laufzeit von etwa 14 Monaten. Die Notes bieten eine Teilnahmerate von 300%, was eine 3-fache Aufwärtsrendite bei positiver Indexentwicklung bedeutet, jedoch sind die Gewinne auf einen begrenzten Wert von 11,575 $ bis 11,975 $ pro Einheit gedeckelt, was einer maximalen Gesamtrendite von 15,75% bis 19,75% entspricht.
Risiko-Rendite-Abwägung: Anleger tragen bei Indexverlusten eine 1:1 Abwärtsrisiko und können bis zu 100% des Kapitals verlieren. Der anfängliche geschätzte Wert liegt unter dem öffentlichen Angebotspreis, die Liquidität am Sekundärmarkt kann eingeschränkt sein, und die Notes werden nicht an der Börse gehandelt. Zahlungen hängen von der Kreditwürdigkeit von CIBC ab; ein Ausfall würde zu einem Totalverlust führen. Anleger verzichten zudem auf Dividendenrechte und akzeptieren die Volatilität von Small-Cap-Aktien, wie sie im Russell 2000 enthalten sind.
Zielgruppenprofil: Das Produkt eignet sich für Anleger, die innerhalb von 14 Monaten einen moderaten Anstieg des Russell 2000 erwarten, mit einer Renditeobergrenze leben können und das volle Kapitalrisiko sowie den Verzicht auf laufende Erträge tolerieren. Es ist nicht geeignet für Anleger, die Kapitalerhalt, Dividendeneinkommen oder unbegrenzte Aktienexponierung suchen.
Wichtige Dokumente: Vollständige Bedingungen, steuerliche Überlegungen und Risikofaktoren sind im verlinkten vorläufigen Prospekt, Produktergänzung und im Prospekt unter der SEC-Registrierungsnummer 333-272447 enthalten.
- 300 % participation rate offers leveraged upside for modest index gains.
- Short 14-month tenor reduces duration risk compared with longer-dated notes.
- Maximum return of up to 19.75 % may appeal to investors seeking defined payoff structures.
- Full 1-to-1 downside exposure can result in 100 % loss of principal.
- Return cap at $11.975 limits profit even if the Russell 2000 rallies strongly.
- Credit risk of CIBC; investor is an unsecured creditor in event of default.
- Initial estimated value is below offering price, creating negative carry at issuance.
- No exchange listing and potentially illiquid secondary market could lock investors in until maturity.
Insights
TL;DR: Routine structured note; high leverage but capped, full downside risk, minimal impact on CIBC fundamentals.
The ARNs provide an aggressive 300 % participation rate, attractive to tactical investors expecting single-digit index gains. However, the 15.75 %-19.75 % cap flattens returns beyond roughly 6 % index appreciation, limiting upside relative to direct equity exposure. Credit and liquidity risks remain typical for bank-issued structured notes: off-exchange trading, wide bid-ask spreads and an initial valuation discount. From CIBC’s perspective this is a standard capital-markets product with negligible balance-sheet impact. Therefore, the filing is operationally routine and not a catalyst for CM equity.
TL;DR: Niche product for bullish-but-cautious investors; risk/reward skew favours issuer, not portfolio core.
For allocation purposes, these ARNs substitute a covered-call-like payoff: limited gains, full losses. The payoff is justified only if an investor assigns high probability to Russell 2000 gains of 0-6 % within 14 months while discounting tail risk. Given recession concerns and small-cap volatility, the asymmetric profile looks unfavourable; equity or option overlays may achieve similar exposures with greater flexibility and liquidity. Consequently, I view the notes as a tactical satellite holding rather than a strategic allocation. Impact on broader markets is immaterial.
Canadian Imperial Bank of Commerce (CIBC) ha presentato un Free Writing Prospectus per le Accelerated Return Notes (ARNs) collegate all'indice Russell 2000. Ogni unità ha un prezzo di 10 $ e una durata di circa 14 mesi. Le note offrono un tasso di partecipazione del 300%, garantendo un rendimento triplo su qualsiasi performance positiva dell'indice, con guadagni però limitati a un Valore Massimo compreso tra 11,575 $ e 11,975 $ per unità, corrispondente a un rendimento totale massimo del 15,75%-19,75%.
Rapporto rischio/rendimento: Gli investitori si espongono a una perdita pari a 1 a 1 in caso di ribasso dell'indice e possono perdere fino al 100% del capitale investito. Il valore iniziale stimato sarà inferiore al prezzo di offerta pubblica, la liquidità sul mercato secondario potrebbe essere limitata e le note non saranno quotate in borsa. I pagamenti dipendono dalla solidità creditizia di CIBC; in caso di default, gli investitori non avranno alcun recupero. Inoltre, gli investitori rinunciano ai diritti sui dividendi e accettano la volatilità tipica delle società a bassa capitalizzazione presenti nel Russell 2000.
Profilo dell'investitore target: Il prodotto è indicato per investitori che prevedono un aumento moderato dell'indice Russell 2000 in 14 mesi, accettano un limite massimo al rendimento e sono disposti a sostenere il rischio totale sul capitale senza ricevere reddito intermedio. Non è adatto a chi cerca preservazione del capitale, reddito da dividendi o esposizione azionaria senza limiti.
Documentazione chiave: Termini completi, considerazioni fiscali e fattori di rischio sono disponibili nel prospetto preliminare, nel supplemento al prodotto e nel prospetto completo depositati sotto il numero di registrazione SEC 333-272447.
Canadian Imperial Bank of Commerce (CIBC) ha presentado un Free Writing Prospectus para las Notas de Retorno Acelerado (ARNs) vinculadas al índice Russell 2000. Cada unidad tiene un precio de 10 $ y un plazo aproximado de 14 meses. Las notas ofrecen una tasa de participación del 300%, proporcionando un retorno triple sobre cualquier rendimiento positivo del índice, aunque las ganancias están limitadas a un Valor Máximo de $11.575-$11.975 por unidad, equivalente a un rendimiento total máximo de 15,75%-19,75%.
Relación riesgo/rendimiento: Los inversores asumen una exposición a la baja de 1 a 1 sobre las pérdidas del índice y pueden perder hasta el 100% del capital. El valor inicial estimado será inferior al precio de oferta pública, la liquidez en el mercado secundario puede ser limitada y las notas no estarán listadas en bolsa. Los pagos dependen de la solvencia crediticia de CIBC; en caso de incumplimiento, los tenedores no recuperarán nada. Además, los inversores renuncian a derechos sobre dividendos y aceptan la volatilidad inherente a las empresas de pequeña capitalización del Russell 2000.
Perfil del inversor objetivo: El producto es adecuado para inversores que esperan un aumento moderado en el Russell 2000 durante 14 meses, están cómodos con un límite en el rendimiento y pueden tolerar el riesgo total del capital sin ingresos intermedios. No es apropiado para quienes buscan preservación del capital, ingresos por dividendos o exposición accionaria sin límites.
Documentación clave: Los términos completos, consideraciones fiscales y factores de riesgo se encuentran en el prospecto preliminar vinculado, el suplemento del producto y el prospecto presentado bajo el número de registro SEC 333-272447.
캐나다 임페리얼 은행(CIBC)는 러셀 2000 지수에 연동된 가속 수익 노트(ARNs)에 대한 Free Writing Prospectus를 제출했습니다. 각 단위는 10달러에 가격이 책정되었으며, 만기는 약 14개월입니다. 이 노트는 300% 참여율을 제공하여 지수가 상승할 경우 3배의 수익을 제공하지만, 단위당 11.575달러~11.975달러의 상한 가치로 수익이 제한되며, 최대 총 수익률은 15.75%~19.75%에 해당합니다.
위험/수익 균형: 투자자는 지수 하락 시 1대1 손실을 감수하며, 원금의 100%까지 손실할 수 있습니다. 초기 추정 가치는 공모가보다 낮을 수 있으며, 2차 시장 유동성은 제한적일 수 있고, 해당 노트는 거래소 상장이 되지 않습니다. 지급은 CIBC의 신용도에 따라 달라지며, 디폴트 발생 시 투자자는 회수할 수 없습니다. 투자자는 배당권을 포기하며, 러셀 2000에 내재된 소형주 변동성도 감수해야 합니다.
목표 투자자 프로필: 이 상품은 14개월 동안 러셀 2000 지수가 완만히 상승할 것으로 예상하며, 수익 상한을 수용하고 원금 전액 손실 위험과 중간 수익 부재를 감수할 수 있는 투자자에게 적합합니다. 자본 보존, 배당 수익 또는 무제한 주식 노출을 원하는 투자자에게는 적합하지 않습니다.
주요 문서: 전체 조건, 세금 고려사항 및 위험 요소는 링크된 예비 설명서, 상품 보충서 및 SEC 등록번호 333-272447로 제출된 설명서에 포함되어 있습니다.
Canadian Imperial Bank of Commerce (CIBC) a déposé un Free Writing Prospectus concernant les Accelerated Return Notes (ARNs) liées à l'indice Russell 2000. Chaque unité est proposée au prix de 10 $ avec une durée d'environ 14 mois. Ces notes offrent un taux de participation de 300%, fournissant un rendement triple en cas de performance positive de l'indice, mais les gains sont plafonnés à une valeur maximale comprise entre 11,575 $ et 11,975 $ par unité, ce qui correspond à un rendement total maximal de 15,75 % à 19,75 %.
Relation risque/rendement : Les investisseurs supportent une exposition à la baisse de 1 pour 1 en cas de perte de l'indice et peuvent perdre jusqu'à 100 % du capital. La valeur initiale estimée sera inférieure au prix d'offre publique, la liquidité sur le marché secondaire peut être limitée, et les notes ne seront pas cotées en bourse. Les paiements dépendent de la solvabilité de CIBC ; en cas de défaut, les détenteurs ne récupéreraient rien. Les investisseurs renoncent également aux droits aux dividendes et acceptent la volatilité des petites capitalisations propres au Russell 2000.
Profil de l'investisseur cible : Ce produit convient aux investisseurs anticipant une hausse modérée du Russell 2000 sur 14 mois, acceptant un plafond de rendement et pouvant tolérer un risque total sur le capital sans revenus intermédiaires. Il n'est pas adapté à ceux recherchant la préservation du capital, des revenus de dividendes ou une exposition en actions sans plafond.
Documents clés : Les conditions complètes, considérations fiscales et facteurs de risque sont détaillés dans le prospectus préliminaire lié, le supplément produit et le prospectus déposés sous le numéro d'enregistrement SEC 333-272447.
Canadian Imperial Bank of Commerce (CIBC) hat einen Free Writing Prospectus für Accelerated Return Notes (ARNs), die an den Russell 2000 Index gekoppelt sind, eingereicht. Jede Einheit wird zu einem Preis von 10 $ angeboten und hat eine Laufzeit von etwa 14 Monaten. Die Notes bieten eine Teilnahmerate von 300%, was eine 3-fache Aufwärtsrendite bei positiver Indexentwicklung bedeutet, jedoch sind die Gewinne auf einen begrenzten Wert von 11,575 $ bis 11,975 $ pro Einheit gedeckelt, was einer maximalen Gesamtrendite von 15,75% bis 19,75% entspricht.
Risiko-Rendite-Abwägung: Anleger tragen bei Indexverlusten eine 1:1 Abwärtsrisiko und können bis zu 100% des Kapitals verlieren. Der anfängliche geschätzte Wert liegt unter dem öffentlichen Angebotspreis, die Liquidität am Sekundärmarkt kann eingeschränkt sein, und die Notes werden nicht an der Börse gehandelt. Zahlungen hängen von der Kreditwürdigkeit von CIBC ab; ein Ausfall würde zu einem Totalverlust führen. Anleger verzichten zudem auf Dividendenrechte und akzeptieren die Volatilität von Small-Cap-Aktien, wie sie im Russell 2000 enthalten sind.
Zielgruppenprofil: Das Produkt eignet sich für Anleger, die innerhalb von 14 Monaten einen moderaten Anstieg des Russell 2000 erwarten, mit einer Renditeobergrenze leben können und das volle Kapitalrisiko sowie den Verzicht auf laufende Erträge tolerieren. Es ist nicht geeignet für Anleger, die Kapitalerhalt, Dividendeneinkommen oder unbegrenzte Aktienexponierung suchen.
Wichtige Dokumente: Vollständige Bedingungen, steuerliche Überlegungen und Risikofaktoren sind im verlinkten vorläufigen Prospekt, Produktergänzung und im Prospekt unter der SEC-Registrierungsnummer 333-272447 enthalten.
Filed Pursuant to Rule 433
Registration Statement No. 333-272447
| ACCELERATED RETURN NOTES® (ARNs®) |
Accelerated Return Notes® Linked to the Russell 2000® Index
| Issuer | Canadian Imperial Bank of Commerce (“CIBC”) |
| Principal Amount | $10.00 per unit |
| Term | Approximately 14 months |
| Market Measure | The Russell 2000® Index (Bloomberg symbol: "RTY") |
| Payout Profile at Maturity |
· 3-to-1 upside exposure to increases in the Market Measure, subject to the Capped Value
· 1-to-1 downside exposure to decreases in the Market Measure, with up to 100% of your investment at risk |
| Participation Rate | 300.00% |
| Capped Value | [$11.575 to $11.975] per unit, a [15.75% to 19.75%] return over the principal amount, to be determined on the pricing date. |
| Investment Considerations | This investment is designed for investors who anticipate that the Market Measure will increase moderately over the term of the notes, and are willing to accept a capped return, take full downside risk and forgo interim interest payments. |
| Preliminary Offering Documents | https://www.sec.gov/Archives/edgar/data/1045520/000110465925062822/tm2516701d29_fwp.htm |
| Exchange Listing | No |
You should read the relevant Preliminary Offering Documents before you invest. Click on the Preliminary Offering Documents hyperlink above or call your Financial Advisor for a hard copy.
Risk Factors
Please see the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the following:
| · | Depending on the performance of the Market Measure as measured shortly before the maturity date, you may lose up to 100% of the principal amount. |
| · | Your investment return is limited to the return represented by the Capped Value and may be less than a comparable investment directly in the stocks included in the Market Measure. |
| · | Payments on the notes, including any repayment of principal, are subject to the credit risk of CIBC, and actual or perceived changes in the creditworthiness of CIBC are expected to affect the value of the notes. If CIBC becomes insolvent or is unable to pay its obligations, you may lose your entire investment. |
| · | The initial estimated value of the notes on the pricing date will be less than their public offering price. |
| · | If you attempt to sell the notes prior to maturity, their market value may be lower than both the public offering price and the initial estimated value of the notes on the pricing date. |
| · | As a noteholder, you will have no rights of a holder of the securities represented by the Market Measure, and you will not be entitled to receive securities, dividends or other distributions by the issuers of those securities. |
| · | The notes are subject to risks associated with small-size capitalization companies. |
Final terms will be set on the pricing date within the given range for the specified Market-Linked Investment. Please see the Preliminary Offering Documents for complete product disclosure, including related risks and tax disclosure.
| The graph above and the table below reflect the hypothetical return on the notes, based on the terms contained in the table to the left (using the mid-point for any range(s)). The graph and the table have been prepared for purposes of illustration only and do not take into account any tax consequences from investing in the notes. |
| Hypothetical Percentage Change from the Starting Value to the Ending Value |
Hypothetical Redemption Amount per Unit |
Hypothetical Total Rate of Return on the Notes |
| -100.00% | $0.000 | -100.00% |
| -50.00% | $5.000 | -50.00% |
| -20.00% | $8.000 | -20.00% |
| -10.00% | $9.000 | -10.00% |
| -6.00% | $9.400 | -6.00% |
| -3.00% | $9.700 | -3.00% |
| 0.00% | $10.000 | 0.00% |
| 2.00% | $10.600 | 6.00% |
| 5.00% | $11.500 | 15.00% |
| 5.92% | $11.775(1) | 17.75% |
| 20.00% | $11.775 | 17.75% |
| 50.00% | $11.775 | 17.75% |
| 100.00% | $11.775 | 17.75% |
(1) The Redemption Amount per unit cannot exceed the hypothetical Capped Value.
Canadian Imperial Bank of Commerce (CIBC) has filed a registration statement (including a product supplement, a prospectus supplement, and a prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this document relates. Before you invest, you should carefully read these documents and other documents that CIBC has filed with the SEC for more complete information about CIBC and this offering. You may get these documents without cost by visiting EDGAR on the SEC Website at www.sec.gov. CIBC's Central Index Key, or ClK, on the SEC website is 1045520. Alternatively, MLPF&S or BofAS will arrange to send you these documents if you so request by calling toll-free at 1-800-294-1322.
FAQ
What is the term of CIBC's Accelerated Return Notes (CM)?
How much upside do the CM ARNs provide?
Can investors lose principal on CIBC's Russell 2000 ARNs?
Are the CM ARNs exchange-listed?
What credit risk do investors face with these notes?
Where can I find the full prospectus for the CM Accelerated Return Notes?
