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Canadian Imperial Bank of Commerce (NYSE: CM) filed a Free Writing Prospectus for a new offering of Leveraged Index Return Notes (LIRNs) linked to the Dow Jones Industrial Average.

The structured notes carry a six-year term (maturing in July 2031) with a $10 principal amount per unit. Investors receive [101%-121%] leveraged upside on any gain in the Index. Principal is protected only if the Index does not decline by more than 15%; beyond that threshold, losses are one-for-one, exposing up to 85% of principal to market risk. The notes pay no periodic interest and all payments occur at maturity, subject to CIBC鈥檚 credit risk.

Pricing is expected in July 2025. The initial estimated value is projected between $9.055 and $9.700 per $10 unit, below the public offering price due to a $0.25 underwriting discount and a $0.05 hedging-related charge. The notes are unsecured, unsubordinated debt, are not FDIC/CDIC insured, and will have only limited secondary market liquidity with no exchange listing.

Key governing documents include the prospectus and supplements dated September 5, 2023. All payments depend on CIBC鈥檚 ability to meet its obligations.

Canadian Imperial Bank of Commerce (CIBC) is offering $1,000-denominated Market Linked Securities that combine a contingent quarterly coupon (memory feature) with an auto-call mechanism and contingent downside principal at risk. The notes reference the worst-performing of Amazon.com (AMZN), Alphabet Class A (GOOGL) and NVIDIA (NVDA) and mature on 21 July 2028 unless called earlier.

Key commercial terms

• Contingent Coupon Rate: 鈮� 12.25% p.a., paid quarterly only if the worst stock鈥檚 closing price on the determination date is 鈮� 50 % of its starting price. Missed coupons accrue and may be paid later under the memory feature.
• Auto-call: If on any quarterly observation date (from Jan 2026) the worst stock is at or above its starting price, investors receive par plus the current and any unpaid coupons.
• Principal repayment: At maturity, investors receive par if the worst stock is 鈮� 50 % of its starting price; otherwise repayment equals par 脳 performance factor, exposing investors to unlimited downside below 鈥�50 %.
• Issuer鈥檚 estimated value on the pricing date: 鈮� $922.70, below the $1,000 offer price, reflecting embedded fees of up to 2.325 %.

Risk highlights

• Full exposure to the worst performer; no participation in upside above coupon income.
• Credit risk of CIBC; notes are unsecured and not CDIC/FDIC-insured.
• No exchange listing and uncertain secondary liquidity; market value likely below issue price.
• Complex tax treatment; investors should review the preliminary pricing supplement.

The security targets income-seeking investors willing to accept equity downside and issuer credit risk in exchange for potentially elevated coupons. Investors must be comfortable with possible loss of more than 50 % of principal if the worst stock breaches the 50 % barrier at maturity and the note has not been called.

Canadian Imperial Bank of Commerce (CM) filed a Rule 424(b)(2) Pricing Supplement for a $6.939 million offering of Senior Global Medium-Term Capped Leveraged Buffered MSCI EAFE庐 Index-Linked Notes maturing December 18, 2026.

Key terms:

• Principal: $1,000 per note; no periodic interest.
• Upside participation: 2.5脳 any positive MSCI EAFE庐 return, capped at $1,162 (max gain 16.2%).
• Downside protection: 12.5% buffer. If the index falls 鈮�12.5%, principal is returned. Below that, investors lose principal on a 1.1429脳 leveraged basis and could lose the entire investment.
• Initial Underlier Level: 2,601.76 (6/25/25 close); Determination Date: 12/16/26.
• Issue price vs. estimated value: $1,000 vs. issuer鈥檚 internal estimate of $988, implying a built-in fee/hedging cost of $12 per note.
• Distribution economics: 0% agent commission; proceeds of $6.939 million to the issuer.
• Credit considerations: Unsecured, unsubordinated obligations of CIBC; subject to the bank鈥檚 credit risk; not insured or bail-inable; not exchange-listed, which may limit liquidity.
• Settlement: DTC book-entry; issuance on 7/2/25.

The product suits investors seeking enhanced, but capped, equity exposure to developed ex-U.S. markets with a modest capital buffer over an 18-month horizon, and who are comfortable with both issuer credit risk and limited secondary market liquidity.

Canadian Imperial Bank of Commerce (CIBC) is issuing US$1.075 million of Senior Global Medium-Term Notes, Series A, bearing a fixed coupon of 5.25% and maturing on June 30, 2033. The unsecured notes will be offered in minimum denominations of US$1,000 and will accrue interest semi-annually, payable on June 30 and December 30, beginning December 30, 2025. Investors will receive 100% of principal at maturity plus any accrued interest, provided the notes have not been called earlier.

Issuer call option: CIBC may redeem the notes in whole, but not in part, on any June 30 interest payment date from 2027 through 2032 at par plus accrued interest. Pricing: The public offering price is US$1,000 per note (US$990.60 for certain fee-based advisory accounts). CIBC World Markets Corp. is acting as agent and will receive a 0.94% underwriting commission (US$9.40 per US$1,000 face value), with net proceeds of approximately US$1.065 million to the bank.

Risk considerations: The notes are unsecured, subject to CIBC鈥檚 credit risk, are not deposit-insured, and qualify as Canadian bail-inable debt, meaning they can be converted to equity or written down under the Canada Deposit Insurance Corporation Act in a resolution scenario. The securities will not be listed on an exchange and settlement will occur via DTC on June 30, 2025.

This issuance represents routine wholesale funding for CIBC; at only US$1.075 million, it is immaterial relative to the bank鈥檚 balance-sheet size. No financial performance metrics or earnings data are included in the filing.

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 鈥淐oupon Threshold鈥�). Missed coupons may be 鈥渃aught-up鈥� 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 鈥淒ownside Threshold鈥�). A finish below that level exposes investors to a loss of more than 50 %鈥攗p to full principal loss. The notes are unsecured, subject to CIBC credit risk, and are not insured by any deposit-protection agency. The bank鈥檚 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鈥檚 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庐 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鈥檚 internal funding rate.
• Credit Risk: All payments depend solely on CIBC鈥檚 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鈥檚 perceived credit quality.

The notes suit investors who expect a moderate rise in the Russell 2000庐, 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) 鈥� 5.00% Callable Senior Notes due 2032

The preliminary pricing supplement (Form 424B2) details CIBC鈥檚 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鈥檚 credit risk; they are not insured by CDIC or FDIC.
• They qualify as bail-inable debt; under Canada鈥檚 CDIC Act they may be converted into common shares or written down, potentially without investor consent.
• The issuer鈥檚 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鈥檚 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鈥檚 credit risk and are not insured by CDIC, FDIC, or any other agency.
• They are designated 鈥渂ail-inable鈥� 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.