CIBC SEC Filings

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.

Canadian Imperial Bank of Commerce (CM) has filed a Rule 424(b)(2) preliminary pricing supplement for the issuance of senior unsecured Autocallable Barrier Notes linked to the worst performer among three U.S. equity benchmarks: the S&P 500 Index (SPX), the S&P 500 Equal Weight Index (SPW) and the SPDR Dow Jones Industrial Average ETF Trust (DIA).

Key structural terms

• Principal amount: US $1,000 per note; minimum denomination US $1,000.
• Tenor: ~5 years, maturing 27 Jun 2030 unless earlier called.
• Call feature: Beginning 23 Jun 2026, the notes are automatically redeemed if the closing value of the worst-performing underlying on any annual observation date is ≥ its Call Value (percentage to be set on trade date). Upon call, investors receive par plus a 9.75 % p.a. call premium.
• Barrier at maturity: 75 % of initial value. If final value of the worst performer is ≥ barrier, holders receive par plus the final call premium; if below, repayment equals par × (1 + percentage change), exposing investors to downside similar to direct equity loss.
• Issue price / commissions: Public offering price US $1,000; underwriting discount up to US $3 (0.30 %). Certain fee-based accounts may pay US $997–US $1,000.
• Initial estimated value: US $962.10 – US $982.10 per US $1,000, below the issue price, reflecting embedded dealer compensation and hedging costs.
• Listing: None; secondary market trading likely limited.

Risk highlights

• Unsecured, senior obligations of CIBC, subject to the Bank’s credit risk; not deposit-insured or bail-in-able.
• Investors may lose some or all principal if the worst-performing underlying breaches the barrier at maturity.
• Estimated value below issue price creates an initial value drag for investors.
• Lack of listing limits liquidity; market value will fluctuate with underlying performance, interest rates and CIBC’s credit spreads.

Settlement is expected on 26 Jun 2025 through DTC, with CIBC World Markets Corp. acting as agent. The filing directs investors to review additional risk factors in the accompanying prospectus and supplements.

Canadian Imperial Bank of Commerce (CIBC) filed a Rule 424(b)(2) pricing supplement covering the issuance of $14.0 million aggregate principal of 5.00% Senior Global Medium-Term Callable Notes due 24-Dec-2030 (CUSIP 13607XXU6; ISIN US13607XXU61).

Key terms

• Coupon: Fixed 5.00% paid semi-annually on 24-Jun and 24-Dec, first payment 24-Dec-2025.
• Optional call: CIBC may redeem the notes in whole each 24-Jun from 2027 through 2030 at 100% of principal plus accrued interest.
• Denominations: $1,000 minimum, integral multiples of $1,000.
• Distribution: Notes sold at $1,000 par; investors in certain fee-based accounts pay $993.00.
• Underwriting: CIBC World Markets Corp. earns a 0.70% ($7.00 per $1,000) commission; net proceeds to CIBC $13.902 million.
• Settlement: Book-entry via DTC on 24-Jun-2025.

Risk considerations

• The notes are unsecured and unsubordinated, ranking pari passu with other senior debt of CIBC.
• They are bail-inable; under Canada Deposit Insurance Corporation Act s.39.2(2.3) they may be converted to equity, varied or extinguished in a resolution scenario.
• No deposit insurance protection (CDIC or FDIC) and no stock-exchange listing, limiting liquidity.

Regulatory status: The SEC has not approved or disapproved the notes; any representation to the contrary is a criminal offense.

This is a modest-sized financing relative to CIBC’s balance sheet and represents routine funding activity rather than a material corporate event. Investors primarily concerned with coupon income must weigh call risk and potential bail-in conversion.

Canadian Imperial Bank of Commerce (CIBC) is offering 475,747 units of Autocallable Strategic Accelerated Redemption Securities linked to the VanEck® Gold Miners ETF (GDX). Each note has a $10 face value, settles on 25-Jun-2025 and matures 30-Jun-2028, unless automatically called earlier.

Automatic call feature: If on any Observation Date (18-Jun-2026, 17-Jun-2027, 23-Jun-2028) the ETF closes at or above the Starting Value of 53.51, the note is redeemed for the applicable Call Amount: $12.051 (-1 yr, +20.51%), $14.102 (-2 yr, +41.02%) or $16.153 (-3 yr, +61.53%).

Downside exposure: If the note is not called and the Ending Value is below 53.51, investors incur a 1-to-1 loss on the principal with up to 100% at risk. There is no periodic coupon, dividend entitlement, or principal protection.

Pricing economics: Public offering price is $10.00 per unit; underwriting discount is $0.20 and hedging charge $0.05, leaving $9.80 in proceeds to CIBC. The initial estimated value, based on CIBC’s internal funding rate and models, is $9.667, 3.33% below the offering price.

Credit & liquidity: The notes are senior unsecured obligations of CIBC, subject to its credit risk, not FDIC- or CDIC-insured, and will not be listed on any exchange, resulting in limited secondary-market liquidity.

Canadian Imperial Bank of Commerce (CM) has filed a Free Writing Prospectus for Autocallable Contingent Coupon (with Memory) Barrier Notes linked to the worst-performing stock among Advanced Micro Devices (AMD), Tesla (TSLA) and Salesforce (CRM). The notes are senior unsecured debt with a $10 face value, a 2-year term (maturing June 2027) and are subject to CIBC’s credit risk.

Income mechanics: Investors receive a quarterly contingent coupon of $0.625–$0.675 per unit (25–27% p.a.) only if, on the relevant observation date, the worst-performing share price is ≥ 60 % of its start level (Coupon Barrier). Thanks to the “Memory” feature, missed coupons can be recaptured: on any future date that the barrier is met, the coupon formula pays all previously unpaid coupons.

Autocall: Beginning three months after pricing, the notes are automatically redeemed at par plus the current coupon if the worst-performer is ≥ 100 % of its start level (Call Value) on any quarterly call observation date.

Principal repayment: • If not called and the worst-performer closes ≥ 60 % of its start level at final valuation, investors receive par plus the final coupon. • Otherwise, principal is reduced 1-for-1 with the underlying decline, exposing holders to up to 100 % loss.

Pricing & costs: Public offer price is $10.00 per unit (or $9.95 on ≥300,000-unit orders). The initial estimated value is $9.133–$9.596, below offer price due to CIBC’s internal funding rate, hedging costs, a $0.15 sales commission and a $0.05 structuring fee. The notes will not be listed; secondary liquidity is expected to be limited.

Regulatory disclaimers note that the securities are not FDIC/Canada Deposit Insurance Corp. insured and are subject to market and credit risks. Investors should review the detailed risk factors in the term sheet and product supplement STOCK CYN-1.

The Canadian Imperial Bank of Commerce (CM) filed a routine Form 6-K on 19 June 2025. The submission contains no earnings data, transaction details, or updated outlook. Its sole attachment, Exhibit 99.1, is an updated Board Mandate dated 5 June 2025 that outlines the duties, composition, and oversight responsibilities of CIBC’s board of directors. The filing states that the information is incorporated by reference into multiple existing shelf and employee benefit plan registration statements (Form S-8 File Nos. 333-130283, 333-09874, 333-218913; Form F-3 File Nos. 333-219550, 333-220284, 333-272447, 333-282307). Other than this governance document update, the Form 6-K does not disclose any material events, financial figures, or strategic changes. Accordingly, the filing appears primarily administrative and is unlikely to have an immediate market impact.