Canadian Imperial Bank of Commerce is issuing Digital S&P 500® Index-Linked Notes due June 23, 2027, in an aggregate principal amount of $3,022,000. Each note has a principal amount of $1,000, pays no interest and is an unsecured, unsubordinated obligation of the bank.
The notes’ payoff depends on the S&P 500® Index level on June 21, 2027. If the final index level is at least 90.00% of the initial level of 6,878.49, holders receive a capped payment of $1,126.50 per $1,000 note, corresponding to the maximum settlement amount. If the index has fallen by more than 10.00%, the payoff is reduced using a buffer rate of approximately 111.11%, and principal losses can reach 100%.
The bank’s estimated value on the trade date is $991.60 per note, below the $1,000 issue price, reflecting selling, structuring and hedging costs. The notes are not insured, will not be listed on any exchange, and their value is also exposed to CIBC’s credit risk and to tax treatments described in the U.S. and Canadian tax sections.
Canadian Imperial Bank of Commerce is offering $33,890,000 of Capped Leveraged Buffered S&P 500 Index-Linked Notes due February 24, 2028. Each note has a $1,000 principal amount and pays no interest; all return depends on the S&P 500 Index level on the February 22, 2028 determination date.
If the index is above its initial level of 6,834.50, holders receive $1,000 plus 160% of the index gain, capped at a maximum settlement of $1,268 per $1,000 note. If the index falls by up to 12.5%, investors receive $1,000 back. If it falls by more than 12.5%, principal is reduced using a buffer rate of about 114.29%, and losses can reach 100% of the investment. The notes are unsecured obligations of CIBC, are not insured, will not be listed on any exchange, and had an estimated value on the trade date of $998.50 per $1,000 note.
Canadian Imperial Bank of Commerce is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000 Index and the Nasdaq-100 Index, maturing around January 3, 2029. The Notes pay a quarterly contingent coupon at an annual rate of 9.50% to 10.00% (2.375%–2.50% per quarter) only if on each Coupon Determination Date both indices are at or above 70% of their Initial Level, the Coupon Barrier. Starting June 29, 2026, the Notes are automatically called if both indices are at or above their Initial Levels on a Call Observation Date, returning principal plus that quarter’s coupon.
If the Notes are not called and, on the Final Valuation Date, the least performing index is at or above 70% of its Initial Level (the Downside Threshold), holders receive full principal plus the final coupon. If it is below 70%, repayment is reduced in proportion to that index’s decline, up to a 100% loss of principal. Payments depend entirely on CIBC’s credit, and the Notes are not insured or exchange-listed. The initial estimated value is expected between $9.611 and $9.855 per $10 note, below the price to the public.
Canadian Imperial Bank of Commerce is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000 Index and the Nasdaq‑100 Index. The Notes have a principal amount of $10 each (minimum investment $1,000) and an expected term of about three years, from a trade date of December 29, 2025 to a maturity date of January 3, 2029, unless called earlier.
Investors may receive quarterly contingent coupons at an annual rate of 7.50% to 8.00% if on each determination date both indices are at or above 70% of their initial levels. The Notes are automatically called, starting June 29, 2026, if both indices are at or above their initial levels, in which case investors receive principal plus the due coupon and no further payments. If not called and the worst index finishes below 70% of its initial level at maturity, repayment is reduced in proportion to that decline, up to a total loss of principal. All payments depend on CIBC’s credit and the Notes are unsecured, not insured, and will not be listed on any exchange.
Canadian Imperial Bank of Commerce is offering $10 Leveraged Index Return Notes linked to the Russell 1000 Value Index, maturing December 27, 2030. The issue size is 553,071 units, for a total public offering of $5,530,710. These are senior unsecured debt obligations of CIBC, with no periodic interest and all payments made at maturity, subject to CIBC’s credit risk.
The notes provide 122.00% leveraged upside if the index ends above its starting level and 1‑to‑1 downside exposure if it ends below, so investors can lose up to 100% of principal. The initial estimated value is $9.415 per unit, below the $10 public price, reflecting CIBC’s internal funding rate, a $0.25 underwriting discount and a $0.05 hedging-related charge per unit. Investors also forgo dividends on the underlying index stocks and may face limited secondary market liquidity.
Canadian Imperial Bank of Commerce is offering Autocallable Strategic Accelerated Redemption Securities linked to the EURO STOXX 50 Index with a total public offering price of $22,267,210, or $10 per unit. CIBC expects to receive $9.80 per unit in proceeds before expenses, after a $0.20 underwriting discount and a $0.05 hedging-related charge, and the initial estimated value on the pricing date is $9.682 per unit.
The notes are senior unsecured debt due December 29, 2028 and are automatically called if the EURO STOXX 50 Index closes at or above its Starting Value of 5,741.71 on any Observation Date. Call amounts per unit are $11.124 in 2026, $12.248 in 2027, and $13.372 in 2028. If the notes are not called and the Ending Value is below the Starting/Threshold Value, investors lose principal on a one-to-one basis, up to total loss.
Payments depend entirely on Index performance and CIBC’s credit. The notes do not pay dividends, are not insured or bail-inable, will not be listed on an exchange, and may trade at prices below the public offering price, particularly because the internal funding rate and embedded fees reduce their economic value to investors.
Canadian Imperial Bank of Commerce is offering 2,492,467 Accelerated Return Notes linked to an international equity index basket, each with a $10 principal amount, for a total public offering price of $24,924,670. The notes provide 3‑to‑1 upside exposure to gains in a weighted basket of six major non‑U.S. equity indices, capped at a maximum return of 15.72% per unit.
Investors have full 1‑to‑1 downside exposure to declines in the basket and can lose up to 100% of principal. The notes pay no interest, all cash flows occur at maturity in February 2027, and all payments are subject to CIBC’s credit risk. The initial estimated value is $9.75 per unit, below the $10 public offering price, reflecting underwriting discounts, a $0.05 per unit hedging charge, and CIBC’s internal funding rate.
Canadian Imperial Bank of Commerce is offering $12,491,000 of Digital S&P 500® Index-Linked Notes due May 3, 2028. Each $1,000 note pays no interest and its payoff depends on the S&P 500 level on May 1, 2028 versus the initial level of 6,774.76.
If the index is at least 85.00% of this initial level, investors receive a capped amount of $1,193.20 per $1,000 note. If it falls more than 15.00%, principal declines with a downside rate of about 117.65%, and investors can lose their entire investment. The notes are unsecured obligations of CIBC, are not insured or exchange-listed, and the bank’s estimated value on the trade date is $996.60 per $1,000 note, below the issue price.
Canadian Imperial Bank of Commerce is offering 1,790,401 units of Autocallable Strategic Accelerated Redemption Securities linked to an international equity index basket, each with a $10 principal amount. The roughly three-year notes can be automatically called if the basket is at or above its 100.00 Starting Value on observation dates about one, two, and three years after pricing, paying call amounts of $10.99, $11.98, or $12.97 per unit, respectively. If the notes are never called and the basket finishes below the Starting Value, investors have 1‑to‑1 downside exposure and can lose up to their entire principal.
The basket combines the EURO STOXX 50 (40%), FTSE 100 (20%), Nikkei 225 (20%), Swiss Market Index (7.5%), S&P/ASX 200 (7.5%) and FTSE China 50 (5%). The notes pay no interest or dividends and are senior unsecured obligations subject to CIBC’s credit risk. The public offering totals $17,904,010.00, with an underwriting discount of $0.20 and a hedging-related charge of $0.05 per unit; proceeds to CIBC before expenses are $17,545,929.80. The initial estimated value is $9.643 per unit, below the $10 issue price, reflecting dealer compensation and CIBC’s internal funding rate.
Canadian Imperial Bank of Commerce (CIBC) is offering 1,689,419 Autocallable Leveraged Index Return Notes linked to an international equity index basket, at $10 principal per unit for total proceeds before expenses of about $16.56 million. The notes have a term of roughly three years to December 29, 2028, and are senior unsecured debt with no periodic interest payments and full exposure to CIBC’s credit risk.
The notes may be automatically called after about one year on December 18, 2026 if the basket level is at or above its 100% starting value, in which case investors receive $11 per unit (principal plus a $1 call premium). If not called, at maturity investors get a leveraged upside of 239% of any gain in the basket above the starting value, but also a 1‑to‑1 downside if the basket falls, up to a total loss of principal.
The basket starts at 100 and combines six price return indexes: EURO STOXX 50 (40%), FTSE 100 (20%), Nikkei 225 (20%), Swiss Market Index (7.5%), S&P/ASX 200 (7.5%) and FTSE China 50 (5%). The initial estimated value is $9.673 per unit, below the $10 public offering price due to CIBC’s internal funding rate, underwriting discount of $0.20 per unit and a $0.05 hedging-related charge. The notes are not listed, may have limited secondary liquidity, and are subject to additional risks including potential impacts from U.S. executive orders affecting Chinese securities in the FTSE China 50 Index.