Canadian Imperial Bank of Commerce is offering senior market-linked notes that are auto-callable and linked to the lowest-performing of Amazon, Alphabet and Meta common stocks, with a stated maturity in December 2028. The notes pay a quarterly contingent coupon at a rate of 17.50% per annum only if the lowest-performing stock on each determination date closes at or above its coupon threshold price, set at 70% of its starting price. If from June 2026 to September 2028 the lowest-performing stock on a call observation date is at or above its starting price, the notes are automatically called at face value plus the due coupons, ending the investment early. If the notes are not called and, on the final calculation day, the lowest-performing stock finishes below its downside threshold (also 70% of starting), investors lose principal in proportion to the decline and can lose their entire investment. The original offering price is $1,000 per note, with total offering proceeds to CIBC of $3,715,557 and an estimated fair value of $949.80 per note, and all payments are subject to CIBC’s credit risk.
Canadian Imperial Bank of Commerce is offering $8,036,770 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the S&P 500 Index and the EURO STOXX 50 Index, maturing in December 2028. The notes pay a 9.40% per annum contingent coupon (2.35% quarterly) only if each index is at or above its 70% coupon barrier on the relevant determination date, and they may be automatically called quarterly starting June 17, 2026 if both indexes are at or above their initial levels. If not called and the worst index stays at or above 70% of its initial level at maturity, investors receive principal plus the final coupon; if it falls below that threshold, repayment is reduced in line with the index loss and investors can lose their entire principal. The notes are senior unsecured obligations of CIBC, with an initial estimated value of $9.867 per $10 note, and are not listed or insured.
Canadian Imperial Bank of Commerce is offering $15,626,780 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the S&P 500 Index and the EURO STOXX 50 Index, maturing on December 21, 2028. The notes pay a quarterly contingent coupon of 7.40% per annum (1.85% per quarter) only if both indices are at or above 70% of their initial levels on the relevant determination date.
Beginning June 17, 2026, the notes are automatically called if both indices are at or above their initial levels, returning principal plus that quarter’s coupon and ending the investment. If the notes are not called and the worst index finishes at or above 70% of its initial level at maturity, investors receive principal plus the final coupon. If it finishes below 70%, repayment is reduced in line with the index loss and investors can lose up to 100% of principal.
The notes are senior unsecured obligations of CIBC, are not insured by any government agency, will not be listed on an exchange, and have an initial estimated value of $9.693 per $10, below the $10 price to the public.
Canadian Imperial Bank of Commerce is offering $4,471,000 of Capped Leveraged Buffered MSCI EAFE® Index-Linked Notes due December 27, 2027. These unsecured notes pay no interest and repay at maturity based on the MSCI EAFE Index performance from the trade date to the determination date.
For each $1,000 note, investors get 160% of any positive index return, but the payoff is capped at a maximum settlement amount of $1,251.20. A 15% downside buffer protects principal if the index falls by up to 15%; below that level, losses accelerate and investors can lose their entire investment. The initial index level is 2,854.21, the buffer level is 85% of that, and the cap level is 115.70% of that.
The notes are unsecured, unsubordinated obligations of CIBC, are not insured by any deposit insurer, and will not be listed on an exchange. CIBC’s own estimated value on the trade date is $990.90 per $1,000 note, below the issue price, reflecting selling, structuring and hedging costs.
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 principal amount of $10 per note, an expected term of about five years, and pay a quarterly contingent coupon only if each index is at or above its coupon barrier, set at 70% of its initial level. The indicative contingent coupon rate ranges from 6.90% to 7.30% per year.
The notes may be automatically called quarterly starting June 23, 2026 if both indices are at or above their initial levels, in which case investors receive principal plus the applicable coupon and no further payments. At maturity, if not called, full principal is repaid only if the least performing index finishes at or above its downside threshold of 60% of its initial level; otherwise, repayment is reduced in line with the index loss and investors can lose up to 100% of principal. All payments depend on CIBC’s credit, and the initial estimated value is $9.466–$9.704 per $10.
Canadian Imperial Bank of Commerce is offering Contingent Income Auto-Callable Securities maturing on December 29, 2028, linked to the common stock of Amazon.com, Inc. These principal-at-risk notes can pay a Contingent Quarterly Coupon at an annual rate of at least 10.63%, but only if Amazon’s share price on a Determination Date is at or above 65.00% of the Initial Share Price, the Downside Threshold Price.
If on any of the first eleven Determination Dates the stock closes at or above the Initial Share Price, the notes are automatically redeemed for $1,000 per security plus the quarterly coupon, and no further payments are made. If the notes are not called and the Final Share Price is at or above the Downside Threshold Price, investors receive principal plus the final coupon at maturity. If the Final Share Price is below the Downside Threshold Price, repayment is reduced 1-to-1 with the stock’s decline from the Initial Share Price, and the payment can be substantially below principal or zero, with no coupon. Investors do not receive dividends or participate in any upside beyond coupons.
Canadian Imperial Bank of Commerce is offering Digital S&P 500® Index-Linked Notes that are unsecured, senior debt obligations with a minimum denomination of $1,000 per note. The notes do not pay interest. Instead, the cash payment at maturity, expected between 17 and 20 months after the trade date, depends on the performance of the S&P 500® Index from the trade date to a single determination date.
If the S&P 500® final level is at least 90.00% of its initial level, investors receive a capped "threshold settlement amount," expected to be between $1,111.10 and $1,130.70 per $1,000 note. If the index falls more than 10.00%, principal is reduced using a buffer rate of approximately 111.11%, and losses can reach 100% of the investment. The bank’s estimated value on the trade date is expected to be between $973.70 and $993.70 per note, below the $1,000 issue price.
The notes are not insured by the Canada Deposit Insurance Corporation or the FDIC, will not be listed on any exchange, and are subject to CIBC’s credit risk. The product involves complex payoff, market, liquidity, conflict-of-interest and tax risks, with U.S. and Canadian tax treatment described as uncertain and potentially adverse.
Canadian Imperial Bank of Commerce is offering $14,512,000 of Contingent Income Auto-Callable Securities due December 15, 2028, linked to the common stock of Amazon.com, Inc. Each $1,000 security can pay a contingent quarterly coupon at an annual rate of 11.04% ($27.60 per quarter) if Amazon’s share price on the relevant determination date is at least 65% of the $226.19 initial share price (a downside threshold of $147.0235). The notes auto-call on any of the first eleven determination dates if Amazon closes at or above the initial share price, returning principal plus that period’s coupon. If held to maturity and Amazon’s final price is below the downside threshold, repayment is reduced 1-for-1 with the stock’s decline and can fall to zero, so principal is fully at risk. The unsecured notes are not listed on an exchange, include selling and structuring fees, and have an initial estimated value of $973.90 per $1,000.
Canadian Imperial Bank of Commerce is offering senior unsecured Trigger Autocallable Contingent Yield Notes linked to the least performing of the S&P 500 Index and the EURO STOXX 50 Index, maturing around December 21, 2028. The Notes pay a quarterly contingent coupon at an annual rate of 7.15% to 7.65% (about $0.17875 to $0.19125 per $10 per quarter) only if, on each Coupon Determination Date, both indices are at or above 70.00% of their Initial Levels (the Coupon Barriers).
The Notes are automatically called if, on any quarterly Call Observation Date starting June 17, 2026, both indices are at or above their Initial Levels; in that case, holders receive $10 per Note plus the applicable coupon and no further payments. If the Notes are not called and, at final valuation, the least performing index is at or above 70.00% of its Initial Level (the Downside Threshold), holders receive $10 plus the final coupon. If it is below 70.00%, repayment is reduced in proportion to the index decline, and up to 100% of principal can be lost.
The Notes are not listed on any exchange, pay no dividends from the underlying indices, and all payments depend on CIBC’s credit. The initial estimated value is expected to be between $9.482 and $9.719 per $10 principal amount, lower than the $10 price to the public.
Canadian Imperial Bank of Commerce is offering three-year Trigger Autocallable Contingent Yield Notes linked to the least performing of the S&P 500® Index and the EURO STOXX 50® Index. The notes pay a quarterly contingent coupon at an annual rate of 9.15% to 9.65% only if each index is at or above 70% of its initial level on the relevant determination date.
Starting on June 17, 2026, the notes are automatically called if both indices are at or above their initial levels on a quarterly observation date, returning principal plus that quarter’s coupon. If not called, and at maturity the worst-performing index is at or above 70% of its initial level, investors receive principal plus the final coupon. If the worst index finishes below 70%, repayment is reduced in line with its loss and up to 100% of principal can be lost.
Payments depend on CIBC’s credit. The notes are unsecured, senior obligations, not insured by CDIC or FDIC, not bail-inable, and will not be listed on any exchange. The initial estimated value is expected between $9.672 and $9.911 per $10 note, below the price to public.