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.