CIBC SEC Filings

Canadian Imperial Bank of Commerce (NYSE:CM) filed a 424B2 prospectus supplement for a new tranche of Senior Global Medium-Term Market-Linked Securities. The notes are auto-callable, carry a contingent coupon with a memory feature, and expose investors to contingent downside risk tied to the worst-performing of Amazon (AMZN), Alphabet Class A (GOOGL) and NVIDIA (NVDA).

Key terms include a $1,000 face amount, issue date of 23 Jul 2025 and maturity on 21 Jul 2028. Investors receive a quarterly coupon only if the lowest-performing stock on the relevant determination date is at least 50 % of its starting price (the “Coupon Threshold”). Missed coupons may be “caught-up” if the threshold is later met. The Contingent Coupon Rate is at least 12.25 % per annum. Automatic call can occur quarterly from January 2026 through April 2028 if the worst performer closes at or above its starting price, returning face value plus the applicable coupon.

If not called, principal is protected only when the worst performer ends at or above 50 % of its starting price (the “Downside Threshold”). A finish below that level exposes investors to a loss of more than 50 %—up to full principal loss. The notes are unsecured, subject to CIBC credit risk, and are not insured by any deposit-protection agency. The bank’s estimated value on the pricing date is expected to be at least $922.70 per note, below the $1,000 offering price. Underwriting discount is up to $23.25 (2.325 %), with net proceeds of at least $976.75 per note.

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) is offering Accelerated Return Notes (ARNs) linked to the Russell 2000® Index. The senior unsecured notes are expected to price in July 2025, settle shortly thereafter, and mature in September 2026, giving them an effective tenor of roughly 14 months.

Key economic terms include:

• Denomination: $10 principal amount per unit, CUSIP to be assigned.
• Participation Rate: 300% of any positive Index performance, subject to a Capped Value of $11.575-$11.975 per unit (15.75%-19.75% maximum total return).
• Downside Exposure: 1-to-1 participation in any decline of the Index; investors can lose their entire principal.
• Initial Estimated Value: $9.328-$9.763, below the $10 offering price, reflecting underwriting discount ($0.175), a $0.05 hedging-related charge, and CIBC’s internal funding rate.
• Credit Risk: All payments depend solely on CIBC’s ability to pay; the notes are not FDIC- or CDIC-insured and are not bail-inable.
• Liquidity: No exchange listing; secondary trading, if any, will be limited and at prices that reflect market factors, fees, and CIBC’s perceived credit quality.

The notes suit investors who expect a moderate rise in the Russell 2000®, are willing to cap upside, forgo coupons and dividends, accept full downside risk, and are comfortable with limited liquidity. The structure offers leveraged exposure over a short horizon but embeds costs that lower intrinsic value compared with face value.

Canadian Imperial Bank of Commerce (CM) – 5.00% Callable Senior Notes due 2032

The preliminary pricing supplement (Form 424B2) details CIBC’s plan to issue an unspecified aggregate principal amount of senior unsecured Global Medium-Term Notes with a 5.00% fixed coupon, payable semi-annually on January 14 and July 14, beginning January 14 2026. The notes mature on July 14 2032, providing a maximum seven-year term unless the bank exercises its annual call feature.

Key structural terms

• CUSIP/ISIN: 13607XY35 / US13607XY355
• Denomination: US $1,000 minimum and integral multiples thereof
• Interest: 5.00% per annum; 30/360 day-count; accrues from July 14 2025
• Optional redemption: Callable at par plus accrued interest each July 14 from 2027 through 2031 (notice 2-20 business days prior)
• Issue price: Up to 100% of par; fee-based advisory accounts may pay as low as 98.5%
• Underwriting discount: Up to 1.50% (US $15 per US $1,000); net proceeds at least 98.5%
• Listing: None; DTC book-entry delivery expected July 14 2025

Risk considerations

• The notes are senior unsecured obligations of CIBC and are subject to the bank’s credit risk; they are not insured by CDIC or FDIC.
• They qualify as bail-inable debt; under Canada’s CDIC Act they may be converted into common shares or written down, potentially without investor consent.
• The issuer’s call option introduces reinvestment risk; investors face the possibility of early redemption after two years of coupon payments.

Use of proceeds, covenants and financial metrics are not disclosed in the excerpt; investors should review the base prospectus for additional details.

The offering is routine funding activity for a large Canadian bank, but the bail-in language and call schedule are material structural features investors must weigh against the 5.00% fixed return.

Canadian Imperial Bank of Commerce (CIBC) is offering senior, unsecured Global Medium-Term Notes with a fixed coupon of 5.40% and a final maturity on July 11, 2035. The securities, issued under the bank’s shelf registration statement (File No. 333-272447) and described in this preliminary pricing supplement (Form 424B2), will be sold in minimum denominations of $1,000 and integral multiples thereof. Interest is paid semi-annually on January 11 and July 11, beginning January 11, 2026.

Issuer call feature: CIBC may redeem the Notes in whole, but not in part, at par (100% of principal) plus accrued interest on any July 11 interest payment date from 2027 through 2034. If not called, investors receive par plus accrued interest at maturity.

Pricing & distribution: Price to public is $1,000 per Note; certain fee-based accounts may pay as little as $980. CIBC World Markets Corp. will act as agent and receive a commission of up to 2.00% ($20 per $1,000). Net proceeds to CIBC are at least $980 per note. Settlement is expected on or about July 11, 2025 through DTC book-entry.

Risk considerations:

• The Notes are unsecured obligations subject to CIBC’s credit risk and are not insured by CDIC, FDIC, or any other agency.
• They are designated “bail-inable” under the Canada Deposit Insurance Corporation Act, meaning they may be converted into equity or written down if the bank becomes non-viable.
• The annual call option exposes investors to reinvestment risk if rates decline.
• The Notes will not be listed on any exchange, potentially reducing liquidity.

Investors should review the Additional Risk Factors in this supplement and the accompanying prospectus before investing.

Canadian Imperial Bank of Commerce (CIBC) has filed a prospectus supplement for Trigger Step Securities linked to an equity index basket due July 1, 2030. The securities offer exposure to a weighted basket of the S&P 500 Index (60%) and EURO STOXX 50 Index (40%).

Key features include:

• Principal amount: Minimum investment of $1,000 in $10 denominations
• Step Return: Between 46.00% and 49.10% if basket value meets threshold
• Contingent Protection: Full principal returned if final basket value is above 75% of starting value
• Risk: Investors face full downside exposure if basket falls below 75% threshold

The initial estimated value is expected to be between $9.526 and $9.853 per $10 principal amount. These securities are not CDIC insured and carry significant risks, including potential loss of principal. The securities will not be listed on any exchange and are subject to CIBC's creditworthiness.

Canadian Imperial Bank of Commerce has issued $10.95 million in Autocallable Barrier Notes linked to the worst-performing of the S&P 500 Index, S&P 500 Equal Weight Index, and SPDR Dow Jones Industrial Average ETF, due June 27, 2030.

Key features include:

• Automatic Call Feature: Notes will be called if the worst-performing underlying meets/exceeds call value (100%) on annual observation dates from 2026-2029
• Call Premium Rate: 9.75% per annum
• Barrier Protection: 75% of initial value
• Principal Risk: Full principal at risk if worst-performing underlying falls below barrier value at maturity
• Initial Values: SPX (5,967.84), SPW (7,179.75), DIA ($421.76)

Notes are unsecured obligations with $1,000 minimum denominations. Initial estimated value is $973.00 per $1,000 principal, below the public offering price. Not FDIC insured or listed on any securities exchange.

Canadian Imperial Bank of Commerce (CM) has filed a preliminary Rule 424(b)(2) Pricing Supplement for a new structured product: Capped Leveraged Buffered MSCI EAFE® Index-Linked Notes. The zero-coupon notes will mature roughly 18-21 months after trade date and link repayment to the MSCI EAFE® Index.

Key Economic Terms

• Upside participation: 250% of index gain.
• Capped payout: $1,142–$1,167 per $1,000 principal (≈14.2%–16.7% max return).
• Downside buffer: first 12.5% of index loss protected; losses beyond buffer amplified by ≈1.1429×, exposing investors to full principal loss.
• No periodic interest; single payment at maturity.
• Estimated value: $967.90–$987.90, below issue price, reflecting dealer margin & hedging costs.

The notes are unsecured, subject to CIBC credit risk, not deposit-insured, not bail-inable and will not be exchange-listed, limiting liquidity. Initial price to public is 100% with no agent commission; proceeds support general corporate purposes. SEC registration is effective, but the supplement remains preliminary pending final terms.