<SEC-DOCUMENT>0001213900-25-085408.txt : 20250908
<SEC-HEADER>0001213900-25-085408.hdr.sgml : 20250908
<ACCEPTANCE-DATETIME>20250908122820
ACCESSION NUMBER:		0001213900-25-085408
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20250908
FILED AS OF DATE:		20250908
DATE AS OF CHANGE:		20250908

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CANADIAN IMPERIAL BANK OF COMMERCE /CAN/
		CENTRAL INDEX KEY:			0001045520
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		ORGANIZATION NAME:           	02 Finance
		EIN:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14678
		FILM NUMBER:		251299310

	BUSINESS ADDRESS:	
		STREET 1:		81 BAY STREET
		STREET 2:		CIBC SQUARE
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 0E7
		BUSINESS PHONE:		4169803096

	MAIL ADDRESS:	
		STREET 1:		81 BAY STREET
		STREET 2:		CIBC SQUARE
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 0E7
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea0256036-6k_canadian.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">UNITED
STATES</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">SECURITIES AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"></FONT><FONT STYLE="font-size: 10pt">Washington, D.C. 20549</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">FORM 6-K</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Report of Foreign Private Issuer<BR>
Pursuant to Rule 13a-16 or 15d-16<BR>
under the Securities Exchange Act of 1934</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">For the month of September 2025</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Commission File Number: 1-14678</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">CANADIAN IMPERIAL
BANK OF COMMERCE<BR>
</FONT><FONT STYLE="font-weight: normal">(Translation of registrant&rsquo;s name into English)</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">CIBC Square, 81 Bay Street</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Toronto, Ontario<BR>
Canada M5J 0E7<BR>
<FONT STYLE="font-weight: normal">(Address of principal executive offices)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Form 20-F <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40 &#9746;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THIS REPORT ON FORM 6-K AND THE EXHIBITS HERETO SHALL BE DEEMED TO
BE INCORPORATED BY REFERENCE AS EXHIBITS TO CANADIAN IMPERIAL BANK OF COMMERCE&rsquo;S REGISTRATION STATEMENT ON <A HREF="http://www.sec.gov/Archives/edgar/data/1045520/000121390024081367/ea0215203-01.htm">FORM F-3</A> (FILE NO. 333-282307)
AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY
FILED OR FURNISHED.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD>Date:&nbsp;&nbsp;September 8, 2025</TD>
    <TD COLSPAN="2"><B>CANADIAN IMPERIAL BANK OF COMMERCE</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%">/s/ Wojtek Niebrzydowski</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Wojtek Niebrzydowski</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Vice-President, Global Term Funding, Treasury</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 9%">5.1</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 90%"><A HREF="ea025603601ex5-1_canadian.htm">Opinion of Willkie Farr &amp; Gallagher LLP, U.S. counsel for Canadian Imperial Bank of Commerce, as to the validity of the securities</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>5.2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea025603601ex5-2_canadian.htm">Opinion of Blake, Cassels &amp; Graydon LLP, Canadian counsel for Canadian Imperial Bank of Commerce, as to the validity of the securities</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>23.1</TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="ea025603601ex5-1_canadian.htm">Consent of Willkie Farr &amp; Gallagher LLP (included in Exhibit 5.1 above)</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>23.2</TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="ea025603601ex5-2_canadian.htm">Consent of Blake, Cassels &amp; Graydon LLP (included in Exhibit 5.2 above)</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>99.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea025603601ex99-1_canadian.htm">Underwriting Agreement, dated as of September 2, 2025, by and among Canadian Imperial Bank of Commerce and CIBC World Markets Corp., BofA Securities, Inc., Citigroup Global Markets Inc., BNP Paribas Securities Corp., Goldman Sachs &amp; Co. LLC and UBS Securities LLC</A></TD></TR>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>ea025603601ex5-1_canadian.htm
<DESCRIPTION>OPINION OF WILLKIE FARR & GALLAGHER LLP, U.S. COUNSEL FOR CANADIAN IMPERIAL BANK OF COMMERCE, AS TO THE VALIDITY OF THE SECURITIES
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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  <TD STYLE="width: 80%"><IMG SRC="ex5-1_001.jpg" ALT=""></TD>
  <TD STYLE="text-align: left; width: 20%">300 North LaSalle<BR>
Chicago, IL 60654-3406<BR>
Tel: 312 728 9000<BR>
Fax: 312 728 9199</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 8, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Canadian Imperial Bank of Commerce<BR>
81 Bay Street<BR>
CIBC Square<BR>
Toronto, Ontario M5J 0E7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.5pt; text-indent: -40.5pt">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD>Canadian Imperial Bank of Commerce<BR>
<U>US$650,000,000 Floating Rate Senior Notes due 2028<BR>
US$850,000,000 4.243% Fixed-to-Floating Rate Senior Notes due 2028<BR>
US$1,000,000,000 4.580% Fixed-to-Floating Rate Senior Notes due 2031</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have acted as U.S. counsel
to Canadian Imperial Bank of Commerce, a Canadian bank amalgamated under and governed by the <I>Bank Act </I>(Canada) (&ldquo;CIBC&rdquo;),
in connection with the issuance and sale of US$650,000,000 aggregate principal amount of its Floating Rate Senior Notes due 2028, US$850,000,000
aggregate principal amount of its 4.243% Fixed-to-Floating Rate Senior Notes due 2028 and US$1,000,000,000 aggregate principal amount
of its 4.580% Fixed-to-Floating Rate Senior Notes due 2031 (collectively, the &ldquo;Securities&rdquo;), pursuant to a registration statement
on Form F-3 (File No. 333-282307) (the &ldquo;Registration Statement&rdquo;), including the prospectus constituting a part thereof, dated
October 2, 2024 (the &ldquo;Base Prospectus&rdquo;), and the prospectus supplement, dated September 2, 2025 (the &ldquo;Prospectus Supplement&rdquo;
and together with the &ldquo;Base Prospectus,&rdquo; the &ldquo;Prospectus&rdquo;), filed with the Securities and Exchange Commission
under the Securities Act of 1933, as amended (the &ldquo;Act&rdquo;). The Securities are being issued under an indenture, dated as of
September 14, 2010 (the &ldquo;Base Indenture&rdquo;), between CIBC and The Bank of New York Mellon (the &ldquo;Trustee&rdquo;), as supplemented
by the First Supplemental Indenture, dated as of April 2, 2019, and the Second Supplemental Indenture, dated as of September 11, 2024
(the Base Indenture, as so supplemented, the &ldquo;Indenture&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with our representation,
we have examined (i) the Registration Statement, (ii) the Prospectus, (iii) an executed copy of the Indenture, (iv) the forms of certificates
representing the Securities and (v) the corporate records of the Company, including its certificate of incorporation, bylaws and other
corporate records and documents and have made such other examinations as we consider necessary to render this opinion. In rendering this
opinion, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity
to the original documents of all documents submitted to us as certified, conformed or photostatic copies. As to all parties, we have assumed
the legal competence of each individual executing any document, the due authorization, execution and delivery of all documents and the
validity and enforceability thereof against all parties thereto, other than CIBC, in accordance with their respective terms. As to matters
of fact (but not as to legal conclusions), to the extent we deemed proper, we have relied on statements and representations of responsible
officers and other representatives of CIBC and of public officials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">Brussels
Chicago Dallas Frankfurt Hamburg Houston London Los Angeles</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">Milan
Munich New York Palo Alto Paris Rome San Francisco Washington</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Canadian Imperial Bank of Commerce<BR>
September 8, 2025<BR>
Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based upon and subject to
the foregoing, and having regard for legal considerations which we deem relevant, it is our opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i) assuming
that the Indenture has been duly authorized, executed and delivered by CIBC under the laws of the Province of Ontario and the federal
laws of Canada applicable therein and is a valid and legally binding obligation of CIBC under the laws of the Province of Ontario and
the federal laws of Canada applicable therein, the Indenture is the legal, valid and binding obligation of CIBC, enforceable against CIBC
in accordance with its terms (subject, as to enforceability, to applicable bankruptcy, insolvency, reorganization, moratorium or other
similar laws affecting creditors&rsquo; rights generally from time to time in effect and to general principles of equity regardless of
whether enforceability is considered in a proceeding in equity or at law); <I>provided that</I> we express no opinion with respect to
Section 301(b) of the Base Indenture or Section 1601(a) of the Base Indenture (as set forth in Section 2.7 of the First Supplemental Indenture),
which is governed by the laws of the Province of Ontario and the federal laws of Canada; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii) assuming
that the Securities have been duly authorized, established, executed and delivered by CIBC under the laws of the Province of Ontario and
the federal laws of Canada applicable therein and are valid and legally binding obligations of CIBC under the laws of the Province of
Ontario and the federal laws of Canada applicable therein, when executed and authenticated by the Trustee in accordance with the terms
and provisions of the Indenture, and delivered against due payment therefor as provided in the prospectus supplement, the Securities will
constitute valid, binding and enforceable obligations of CIBC, entitled to the benefits of the Indenture (subject, as to enforceability,
to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors&rsquo; rights generally from
time to time in effect and to general principles of equity regardless of whether enforceability is considered in a proceeding in equity
or at law); <I>provided that </I>we express no opinion with respect to Section 301(b) of the Base Indenture or Section 1601(a) of the
Base Indenture (as set forth in Section 2.7 of the First Supplemental Indenture), which is governed by the laws of the Province of Ontario
and the federal laws of Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are admitted to practice
in the States of Illinois and New York and our opinions expressed herein are limited solely to the Federal laws of the United States of
America and the laws of the States of Illinois and New York, and we express no opinion herein concerning the laws of any other jurisdiction.
With respect to all matters of the laws of the Province of Ontario and the federal laws of Canada, we understand that you are relying
upon the opinion, dated the date hereof, of Blake, Cassels &amp; Graydon LLP, Canadian counsel for CIBC, and our opinion is subject to
the same assumptions, qualifications and limitations with respect to such matters as are contained in such opinion of Blake, Cassels &amp;
Graydon LLP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Canadian Imperial Bank of Commerce<BR>
September 8, 2025<BR>
Page 3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In rendering the foregoing
opinion, we are not passing upon, and assume no responsibility for, any disclosure in the Registration Statement or any related prospectus
or other offering material regarding CIBC or the Securities or their offering and sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The opinions and statements
expressed herein are as of the date hereof. We assume no obligation to update or supplement this opinion letter to reflect any facts or
circumstances that may hereafter come to our attention or any changes in applicable law that may hereafter occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We hereby consent to the filing
of this opinion as an exhibit to the Registration Statement and to all references to this firm in such Registration Statement. In giving
this consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt">Very truly yours,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">/s/ <FONT STYLE="font-variant: small-caps">Willkie Farr &amp; Gallagher</FONT></TD></TR>
  </TABLE>

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<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>3
<FILENAME>ea025603601ex5-2_canadian.htm
<DESCRIPTION>OPINION OF BLAKE, CASSELS & GRAYDON LLP, CANADIAN COUNSEL FOR CANADIAN IMPERIAL BANK OF COMMERCE, AS TO THE VALIDITY OF THE SECURITIES
<TEXT>
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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 5.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 40%; font-size: 10pt">&nbsp;<IMG SRC="ex5-2_001.jpg" ALT=""></TD>
    <TD STYLE="width: 20%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 40%; font-size: 10pt"><IMG SRC="ex5-2_002.jpg" ALT=""></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">September 8, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt">Reference: 2105/129</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Canadian Imperial Bank of Commerce</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">81 Bay Street, CIBC Square</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Toronto, Ontario, Canada M5J 0E7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in; text-align: left"><B>Re:</B></TD><TD STYLE="text-align: justify"><B>Canadian Imperial Bank of Commerce</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.55in; text-align: justify"><B>Issue of US$650,000,000 Aggregate
Principal Amount of Floating Rate Senior Notes due 2028, US$850,000,000 Aggregate Principal Amount of 4.243% Fixed-to-Floating Rate Senior
Notes due 2028 and US$1,000,000,000 Aggregate Principal Amount of 4.580% Fixed-to-Floating Rate Senior Notes due 2031</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Dear Sirs/Mesdames:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">We have acted as
special Canadian counsel to Canadian Imperial Bank of Commerce (the &ldquo;<B>Bank</B>&rdquo;) in connection with the issuance and sale
of US$650,000,000 aggregate principal amount of the Bank&rsquo;s Floating Rate Senior Notes due 2028 (the <B>&ldquo;Floating Rate Notes</B>&rdquo;),
US$850,000,000 aggregate principal amount of the Bank&rsquo;s 4.243% Fixed-to-Floating Rate Senior Notes due 2028 (the &ldquo;<B>2028
Fixed-to-Floating Rate Notes</B>&rdquo;) and US$1,000,000,000 aggregate principal amount of the Bank&rsquo;s 4.580% Fixed-to-Floating
Rate Senior Notes due 2031 (the &ldquo;<B>2031 Fixed-to-Floating Rate Notes</B>&rdquo;, and, collectively with the Floating Rate Notes
and the 2028 Fixed-to-Floating Rate Notes, the &ldquo;<B>Notes</B>&rdquo;), pursuant to an underwriting agreement dated September 2, 2025
(the &ldquo;<B>Underwriting Agreement</B>&rdquo;), among the Bank and CIBC World Markets Corp., BofA Securities, Inc., Citigroup Global
Market Inc., BNP Paribas Securities Corp., Goldman Sachs &amp; Co. LLC and UBS Securities LLC, as representatives of the several underwriters
named in Schedule 2 thereto. The Notes will be issued pursuant to an indenture dated as of September 14, 2010 (the &ldquo;<B>Base Indenture</B>&rdquo;)
between the Bank and The Bank of New York Mellon, as trustee (the &ldquo;<B>Trustee</B>&rdquo;), as supplemented by the first supplemental
indenture thereto dated as of April 2, 2019 (the &ldquo;<B>First Supplemental Indenture</B>&rdquo;) and the second supplemental indenture
thereto dated as of September 11, 2024 (the &ldquo;<B>Second Supplemental Indenture</B>&rdquo;, and, collectively with the Base Indenture
and the First Supplemental Indenture, and as amended or supplemented from time to time, the &ldquo;<B>Indenture</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">We have participated,
together with Willkie Farr &amp; Gallagher LLP, United States counsel to the Bank, in the preparation of, or have reviewed, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 73.45pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">1.</TD><TD STYLE="text-align: justify">registration statement on Form F-3 (File No. 333-282307)
(the &ldquo;<B>Registration Statement</B>&rdquo;), including the prospectus constituting a part thereof, dated October 2, 2024 (the &ldquo;<B>Base
Prospectus</B>&rdquo;), the preliminary prospectus supplement dated September 2, 2025 (the &ldquo;<B>Preliminary Prospectus Supplement</B>&rdquo;),
the final prospectus supplement dated September 2, 2025 (the &ldquo;<B>Final Prospectus Supplement</B>&rdquo; and, together with the
Preliminary Prospectus Supplement, the &ldquo;<B>Prospectus Supplement</B>&rdquo; and, together with the Base Prospectus, the &ldquo;<B>Prospectus</B>&rdquo;),
filed with the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended (the &ldquo;<B>Act</B>&rdquo;);</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: justify">the Underwriting Agreement;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 73.45pt; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">the Indenture; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 73.45pt; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">the forms of certificates representing the Notes.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="ex5-2_003.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">We have examined
such statutes, public and corporate records, opinions, certificates and other documents, and considered such questions of law, as we have
considered relevant and necessary as a basis for the opinions hereinafter set forth. In such examination we have assumed the genuineness
of all signatures and the authenticity of all documents submitted to us as originals, and the conformity to original documents of all
documents submitted to us as certified or photostatic copies, portable document format or facsimiles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">For the purposes
of the opinions expressed herein, we have, without independent investigation or verification, assumed that the Indenture has been duly
authorized, executed and delivered by, and constitutes, a legal, valid and binding obligation of, each party thereto other than the Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">Additionally, for
the purposes of the opinions expressed herein, we have relied upon a certificate of the Vice President, Corporate Secretary of the Bank
dated September 8, 2025 (the &ldquo;<B>Secretary&rsquo;s Certificate</B>&rdquo;), as to certain matters of fact contained therein and
the resolutions of the Board of Directors of the Bank relating to the Registration Statement, the Prospectus and the creation and issuance
of the Notes and other related matters, and we have not independently verified the accuracy of the factual matters set forth therein upon
which we have relied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">In expressing the
opinion set forth in paragraph 1 below, as to the amalgamation of the Bank, we have relied exclusively upon a certificate of confirmation
dated September 5, 2025 issued by the Office of the Superintendent of Financial Institutions and the Secretary&rsquo;s Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">In expressing the
opinion set forth in paragraph 2 below, we have assumed that the Notes will be issued in accordance with the provisions of the May 26,
2010, April 4, 2019, August 28, 2024 and March 5, 2025 resolutions, as applicable, of the Board of Directors of the Bank, which are attached
as an exhibit to the Secretary&rsquo;s Certificate, and that such resolutions will not have been modified, repealed or superseded prior
to the date of the issuance of the Notes in any way that would affect the substance of such opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">The Canada Deposit
Insurance Corporation has the power to convert, or cause the Bank to convert, in whole or in part, by means of a transaction or series
of transactions and in one or more steps, the prescribed liabilities of the Bank into the common shares of the Bank or any of its affiliates
(&ldquo;<B>Bail-In Conversion</B>&rdquo;), if the Governor in Council (Canada) makes an order under paragraph 39.13(1)(d) of the <I>Canada
Deposit Insurance Corporation Act </I>(Canada) (the &ldquo;<B>CDIC Act</B>&rdquo;) in respect of the Bank. Regulations made under the
CDIC Act and the <I>Bank Act </I>(Canada) (the &ldquo;<B>Bank Act</B>&rdquo;) (collectively, the &ldquo;<B>Bail-In Regulations</B>&rdquo;)
prescribe the types of shares and liabilities that may be subject to a Bail-In Conversion. In general, any senior debt with an initial
or amended term to maturity (including explicit or embedded options) greater than 400 days, that is unsecured or partially secured and
has been assigned a CUSIP or ISIN or similar identification number is subject to a Bail-In Conversion. However, certain other debt obligations
of the Bank, including structured notes, are not subject to a Bail-In Conversion. Subject to certain exceptions, a &ldquo;structured
note&rdquo; is defined as a debt obligation that (a) specifies that the obligation&rsquo;s stated term to maturity, or a payment to be
made by its issuer, is determined in whole or in part by reference to an index or reference point, including (i) the performance or value
of an entity or asset, (ii) the market price of a security, commodity, investment fund or financial instrument, (iii) an interest rate,
and (iv) the exchange rate between two currencies; or (b) contains any other type of embedded derivative or similar feature. To the extent
the Debt Securities (as defined in the Prospectus) fall within this definition of a &ldquo;structured note&rdquo;, they will accordingly
not be subject to a Bail-in Conversion. Notwithstanding the above, any Debt Securities issued before the date the Bail-In Regulations
came into force on September 23, 2018 are not subject to a Bail-In Conversion, unless the terms of such liability are, on or after September
23, 2018, amended to increase its principal amount or to extend its term to maturity and the liability, as amended, meets the requirements
to be subject to a Bail-In Conversion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="ex5-2_003.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">The opinions contained
herein are limited to matters governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein (&ldquo;<B>Domestic
Law</B>&rdquo;). Such opinions are expressed with respect to the Domestic Law in effect on the date of this opinion and we do not accept
any responsibility to take into account or inform the addressee, or any other person authorized to rely on this opinion, of any changes
in law, facts or other developments subsequent to this date that do or may affect the opinions we express, nor do we have any obligation
to advise you of any other change in any matter addressed in this opinion or to consider whether it would be appropriate for any other
person other than the addressee to rely on our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Based and relying upon and subject to the qualifications
set forth herein, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">1.</TD><TD STYLE="text-align: justify">The Bank is a bank amalgamated under and governed by the
Bank Act and has the corporate power to execute, deliver and perform its obligations under the Indenture and to create, issue and sell
the Notes as contemplated in the Prospectus.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">All necessary corporate action has been taken by the Bank to authorize the creation, issuance, sale and
delivery of the Notes; when the Notes have been duly executed and authenticated by the Trustee, issued in accordance with the Indenture
and delivered against payment therefor as contemplated in the Registration Statement, the Prospectus and the Underwriting Agreement, the
Notes will be, to the extent issuance, execution and delivery are matters governed by Domestic Law, duly issued, executed and delivered
by the Bank and, to the extent validity of the Notes is a matter governed by Domestic Law, the Notes will be valid obligations of the
Bank.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">The opinion set
forth in paragraph 2 above is subject to and may be limited by the following qualifications:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">general principles of equity, including the principle of granting equitable remedies such as specific
performance and injunctive relief, are subject to the discretion exercisable by a court of competent authority and/or jurisdiction;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">enforceability may be limited by bankruptcy, insolvency, winding-up, liquidation or other similar laws
of general application affecting the enforcement of creditors&rsquo; rights generally (including the provisions of the Bank Act respecting
such matters);</TD></TR></TABLE>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the enforcement of any rights against the Bank under the Indenture with respect to indemnity or contribution
may be limited by applicable law and may not be ordered by a court on the grounds of public policy and may, therefore, not be available
in any particular instance;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 73.45pt; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">a court in the Province of Ontario may decline to enforce provisions in any document which purport to
allow a determination, calculation or certificate of a party thereto as to any matter provided for therein to be final, conclusive or
binding upon any other party thereto if such determination is found to be inaccurate on its face or to have been reached or made on any
arbitrary or fraudulent basis;</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">enforceability of the Indenture or a provision of the Indenture may be subject to the provisions of the
<I>Limitations Act</I>, 2002 (Ontario), and we express no opinion as to whether a court may find any provision of the Indenture to be
unenforceable on the basis that such provision is an attempt to vary or exclude a limitation period under such Act; and</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">pursuant to the <I>Currency Act </I>(Canada), a judgment by a court in any province in Canada may be awarded
in Canadian currency only and such judgment may be based on a rate of exchange which may be the rate in existence on a day other than
the day of payment of such judgment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">This opinion is
rendered solely in connection with the transactions covered hereby, is limited to the matters stated herein, and no opinions may be implied
or inferred beyond matters expressly stated herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.4pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">We hereby consent
to the filing of this opinion as an exhibit to the Registration Statement and to the references to us under the headings &ldquo;<I>Legal
Matters</I>&rdquo;, &ldquo;<I>Material Income Tax Consequences&mdash;Canadian Taxation</I>&rdquo;, &ldquo;<I>Limitations on Enforcement
of U.S. Laws Against CIBC, Its Management and Others</I>&rdquo; and &ldquo;<I>Validity of Securities</I>&rdquo; in the Prospectus included
in the Registration Statement. In giving such consent, we do not thereby admit that we come within the category of persons whose consent
is required by the Act or the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 289.5pt">&nbsp;</P>

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    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yours very truly,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Blake, Cassels &amp; Graydon LLP</FONT></TD></TR>
  </TABLE>
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<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>ea025603601ex99-1_canadian.htm
<DESCRIPTION>UNDERWRITING AGREEMENT, DATED AS OF SEPTEMBER 2, 2025, BY AND AMONG CANADIAN IMPERIAL BANK OF COMMERCE AND CIBC WORLD MARKETS CORP., BOFA SECURITIES, INC., CITIGROUP GLOBAL MARKETS INC.
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; text-transform: none">Exhibit 99.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">UNDERWRITING
AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">September
2, 2025</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">CANADIAN IMPERIAL BANK OF COMMERCE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">DEBT SECURITIES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">September <FONT STYLE="font-size: 10pt">2</FONT>,
2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the Underwriters named in Schedule 2 hereto</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Canadian Imperial Bank of Commerce, a Canadian
bank chartered under the <I>Bank Act </I>(Canada) (the <B>Bank</B>), proposes to issue and sell to the several underwriters named in Schedule
2 hereto (the <B>Underwriters</B>) US$650,000,000 aggregate principal amount of its Floating Rate Senior Notes due 2028 (the <B>Floating
Rate Notes</B>), US$850,000,000 aggregate principal amount of its 4.243% Fixed-to-Floating Rate Senior Notes due 2028 (the <B>2028 Fixed-to-Floating
Rate Notes</B>) and US$1,000,000,000 aggregate principal amount of its 4.580% Fixed-to-Floating Rate Senior Notes due 2031 (the <B>2031
Fixed-to-Floating Rate Notes</B>, together with the 2028 Fixed-to-Floating Rate Notes, the <B>Fixed-to-Floating Rate Notes</B>, and the
Fixed-to-Floating Rate Notes together with the Floating Rate Notes, the <B>Securities</B>), as set forth in Schedule 4 hereto, to be issued
pursuant to the provisions of an indenture, dated as of September 14, 2010 (the <B>Base Indenture</B>) between the Bank and The Bank of
New York Mellon, as trustee (the <B>Trustee</B>), as supplemented by a First Supplemental Indenture, dated as of April 2, 2019 between
the Bank and the Trustee and by a Second Supplemental Indenture, dated as of September 11, 2024 between the Bank and the Trustee (together,
the <B>Supplemental Indentures</B> and, together with the Base Indenture as so amended and supplemented, the <B>Indenture</B>). CIBC World
Markets Corp., BofA Securities, Inc., Citigroup Global Markets Inc., BNP Paribas Securities Corp., Goldman Sachs &amp; Co. LLC and UBS
Securities LLC shall act as representatives of the several Underwriters (the <B>Representatives</B>).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Representations, Warranties and Agreements of the Bank</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Bank represents and warrants to,
and agrees with, each of the Underwriters that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Bank meets the general eligibility requirements for use of Form F-3 under the U.S. Securities Act
of 1933, as amended (the <B>Securities Act</B>) and has prepared and filed with the U.S. Securities and Exchange Commission (the <B>Commission</B>)
under the Securities Act a registration statement on Form F-3 (File No. 333-282307), including a prospectus in respect of up to US$20,000,000,000
aggregate initial offering amount of debt securities and common shares of the Bank (the <B>Shelf Securities</B>) and an appointment of
agent for service of process on Form F-N (the <B>Form F-N</B>) relating to the registration statement. Such Registration Statement (as
defined below) was declared effective by the Commission on October 2, 2024. The Trustee has prepared and caused to be filed with the Commission
a Form T-1 Statement of Eligibility of the Trustee with respect to the Indenture (the <B>Form T-1</B>) under the U.S. Trust Indenture
Act of 1939, as amended (the <B>Trust Indenture Act</B>); there are no contracts, documents or other materials required to be described
or referred to in the Registration Statement or the Prospectus (as defined below) or to be filed or incorporated by reference as exhibits
to the Registration Statement that are not described, referred to or filed or incorporated by reference as required and, in the case of
those documents filed, delivered to the Representatives. The registration statement as amended as of the Effective Date (as defined below),
including the prospectus constituting a part thereof, all exhibits thereto (but excluding the Form T-1), the documents incorporated by
reference therein at the time such registration statement became effective, and any information, if any, relating to the Securities that
is filed with the Commission pursuant to Rule 424(b) and deemed part of such registration statement pursuant to Rule 430B under the Act
is hereinafter called the <B>Registration Statement</B>; if the Bank has filed an abbreviated registration statement pursuant to Rule
462(b) under the Securities Act (the <B>Rule 462 Registration Statement</B>), then any reference herein to the term &ldquo;Registration
Statement&rdquo; shall be deemed to include such Rule 462 Registration Statement; <B>Effective Date</B> means any date to which any part
of the Registration Statement or any post-effective amendment relating to the Securities became, or is deemed to have become, effective
under the Securities Act for purposes of liability under Section 11 of the Securities Act of the Underwriters with respect to the offering,
including in accordance with the rules and regulations of the Commission; the base prospectus relating to the Shelf Securities filed as
part of the Registration Statement, including the documents incorporated by reference therein, in the form in which it has most recently
been filed with the Commission on or prior to the date of this Agreement, is hereinafter called the <B>Base Prospectus</B>; the Base Prospectus,
as supplemented by the preliminary prospectus supplement specifically relating to the Securities, in the form in which it has most recently
been filed with the Commission on or prior to the date of this Agreement, is hereinafter referred to as the <B>Preliminary Prospectus</B>.
For purposes of this Agreement, <B>free writing prospectus</B> has the meaning set forth in Rule 405 under the Securities Act, <B>Time
of Sale Prospectus</B> means the Preliminary Prospectus together with the final term sheet, the form of which is set forth in Schedule
4 hereto, and the other free writing prospectuses, if any, each identified in Schedule 4 hereto, and <B>Prospectus</B> means the final
prospectus supplement relating to the offering of the Securities that discloses the public offering price and other final terms of the
Securities, together with the Base Prospectus, to be filed with the Commission pursuant to Rule 424(b) in accordance with Section 6(a)
hereof. As used herein, the terms &ldquo;Base Prospectus,&rdquo; &ldquo;Preliminary Prospectus,&rdquo; &ldquo;Time of Sale Prospectus&rdquo;
and &ldquo;Prospectus&rdquo; shall include the documents, if any, incorporated by reference therein as of the relevant time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Terms <B>supplement</B>, <B>amendment</B>,
and <B>amend</B> as used herein with respect to the Registration Statement, the Base Prospectus, the Preliminary Prospectus, the Time
of Sale Prospectus, the Prospectus or any free writing prospectus shall include any document subsequently filed by the Bank pursuant to
the U.S. Securities Exchange Act of 1934, as amended (the <B>Exchange Act</B>), that is deemed to be incorporated by reference therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Each document, if any, filed or to be filed pursuant to the Exchange Act and incorporated by reference
in the Time of Sale Prospectus or the Prospectus, as amended or supplemented, as applicable, complied or will comply when so filed in
all material respects with the requirements of the Exchange Act and the applicable rules and regulations of the Commission thereunder,
and none of such documents, as of its respective date, contained or will contain any untrue statement of a material fact or omitted or
will omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Registration Statement has become effective; no stop order suspending the effectiveness of the Registration
Statement or preventing or suspending the use of any Preliminary Prospectus, any free writing prospectus or the Prospectus is in effect,
and no proceedings for such purpose or pursuant to Section 8A of the Securities Act against the Bank or related to the offering of the
Securities are pending before, or to the knowledge of the Bank, threatened by the Commission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">(i) Each part of the Registration Statement, when such part became effective, did not contain, and each
such part, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement, as of
the Effective Date, the Preliminary Prospectus, as of the date of the preliminary prospectus supplement specifically relating to the Securities,
and the Time of Sale Prospectus, as of the Time of Sale (which shall be defined to be 6:23 p.m. (eastern) on the date hereof), conformed,
and the Prospectus, as of the date of the final prospectus supplement specifically relating to the Securities, and as amended or supplemented
on or prior to the Closing Date, if applicable, will conform, in all material respects with the Securities Act and the applicable rules
and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus, as of the Time of Sale, did not, and at the Closing Date,
the Time of Sale Prospectus, as amended or supplemented, if applicable, will not, contain any untrue statement of a material fact or omit
to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading,
(iv) each &ldquo;issuer free writing prospectus&rdquo; and &ldquo;road show&rdquo;, each as defined in Rule 433(h) of the Securities Act,
if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading
and (v) the Prospectus, as amended or supplemented, if applicable, as of the date of the final prospectus specifically relating to the
Securities and as of the Closing Date, will not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations
and warranties set forth in this paragraph do not apply to (A) any statements or omissions made in reliance upon and in conformity with
information relating to any Underwriter furnished to the Bank in writing by such Underwriter through the Representatives expressly for
use in the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus or the Prospectus, as amended or supplemented,
if applicable, or (B) that part of the Registration Statement that constitutes the Form T-1. The Form F-N conforms in all material respects
with the requirements of the Securities Act and the rules and regulations of the Commission under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The Bank is not an &ldquo;ineligible issuer&rdquo; (as defined in Rule 405 of the rules and regulations
of the Commission) in connection with the offering pursuant to Rules 164, 405 and 433 under the Securities Act. Any free writing prospectus
that the Bank is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in
accordance with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. Each free
writing prospectus that the Bank has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or that was prepared
by or on behalf of or used or referred to by the Bank complies or will comply in all material respects with the requirements of the Securities
Act and the applicable rules and regulations of the Commission thereunder. Except for the free writing prospectuses, if any, identified
in Schedule 4 hereto forming part of the Time of Sale Prospectus, and electronic road shows, if any, each furnished to the Representatives
before first use, the Bank has not used or referred to, and will not, without the prior consent of the Representatives (such consent not
to be unreasonably withheld), use or refer to, any free writing prospectus.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">The Bank is a bank amalgamated under and governed by the <I>Bank Act </I>(Canada) (the <B>Bank Act</B>)
and is listed on Schedule 1 to the Bank Act, is duly qualified to carry on its business in each jurisdiction in which the conduct of its
business or the ownership, leasing or operation of its property and assets requires such qualification except to the extent that the failure
to so qualify or be in good standing would not, individually or in the aggregate, reasonably be expected to have, a material adverse effect
on the condition, financial or otherwise, or the results of operations or business of the Bank and its subsidiaries, taken as a whole
(a <B>Material Adverse Effect</B>), and has all requisite power and authority (corporate and other) to conduct its businesses and to own,
lease and operate its properties and assets as described in the Time of Sale Prospectus, except where failure to do so would not reasonably
be expected to have a Material Adverse Effect, and to execute, deliver and perform its obligations under this Agreement, the Indenture
or to issue, sell and deliver the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">Each &ldquo;significant subsidiary&rdquo; (as defined in Rule 1-02(w) of Regulation S-X under the Securities
Act) (the <B>Significant Subsidiaries</B>) of the Bank has been duly incorporated and is validly existing and in good standing under the
laws of the relevant jurisdiction set forth opposite its name in Column 2 in Schedule 3 to this Agreement, and each Significant Subsidiary
is duly qualified to carry on its business in each jurisdiction in which the conduct of its business or the ownership, leasing or operation
of its property and assets requires such qualification, except where the failure to be so qualified or be in good standing would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, and has all requisite power and authority
(corporate and other) to conduct its business and to own, lease and operate its properties and assets as described in the Time of Sale
Prospectus, except where failure to do so would not reasonably be expected to have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">Each of the Bank and its Significant Subsidiaries has conducted and is conducting its business in compliance
in all respects with all applicable laws, rules and regulations of each jurisdiction in which its business is carried on and holds all
licenses, permits, approvals, consents, certificates, registrations and authorizations (whether governmental, regulatory or otherwise)
from the relevant regulatory or governmental authority in all such jurisdictions in which the Bank or its Significant Subsidiaries conduct
business, to enable its business to be carried on as now conducted and its property and assets to be owned, leased and operated, except
in each case where the failure to be in such compliance or to hold such license, permit, approval, consent, certificate, registration
or authorization would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and all such licenses,
permits, approvals, consents, certificates, registrations and authorizations are in good standing and in effect, except where the failure
to be in good standing or in effect would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect,
and none of the same contains any term, provision, condition or limitation which will have a Material Adverse Effect.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Neither the Bank nor any of its Significant Subsidiaries (i) is in violation or breach of its certificate
of incorporation, by-laws, partnership agreement or other constitutive documents or (ii) is in default, and no event has occurred that,
with notice or lapse of time or both, would constitute such a default, in the due performance or observance of any loan agreement, indenture,
mortgage, deed of trust or other agreement or instrument to which it is a party or by which it is bound, except in the case of clause
(ii), to the extent any such default would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">The execution and delivery by the Bank of this Agreement, and the performance by the Bank of its obligations
under this Agreement, the Indenture and the Securities, will not result in a breach of or default under, and will not create a state of
facts which, after notice or lapse of time or both, will result in a breach or default under, and will not conflict with:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any of the terms, conditions or provisions of the Bank Act or the by-laws of the Bank or the terms, conditions
or provisions of the certificate of incorporation, by-laws, partnership agreements or other constitutive documents of its Significant
Subsidiaries;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">any license, permit, approval, consent, certificate, registration or authorization (whether governmental,
regulatory or otherwise) issued to the Bank or any Significant Subsidiary or any agreement, indenture, mortgage, deed of trust, lease,
document or instrument to which the Bank or any Significant Subsidiary is a party or by which it is contractually bound at the Time of
Delivery (as defined herein), except for breaches or violations which would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">any statute, regulation or rule applicable to the Bank or any Significant Subsidiary, or any judgment,
order or decree of any governmental body, agency or court having jurisdiction over the Bank or any Significant Subsidiary, except for
breaches or violations which would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">The Bank has not filed any confidential material change report with any of the applicable Canadian securities
commissions or similar regulatory authorities, the Toronto Stock Exchange or any other self-regulatory authority which remains confidential.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">All of the issued shares of capital stock of each Significant Subsidiary are validly authorized, issued
and outstanding, are fully paid and non-assessable and are owned directly or indirectly by the Bank, free and clear of all mortgages,
liens, charges, pledges, security interests, encumbrances, claims or demands whatsoever.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">This Agreement has been duly authorized, executed and delivered by the Bank.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">On or before the Time of Delivery, all actions required to be taken by or on behalf of the Bank, including
the passing of all requisite resolutions of its directors, will have occurred so as to validly authorize, issue and sell the Securities
as contemplated by this Agreement, and duly, punctually and faithfully perform all the obligations to be performed by it under this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">No consent, approval, authorization or order of, or qualification with, any relevant regulatory or governmental
authority having jurisdiction over the Bank or any of its subsidiaries or any of their properties (<B>Governmental Authorization</B>)
is required in connection with the issuance and sale of the Securities or the consummation by the Bank of the transactions contemplated
by this Agreement or the Indenture, except such as have been, or will have been prior to the Time of Delivery, obtained under the laws
of the provinces and territories of Canada, the Securities Act and the Trust Indenture Act and such Governmental Authorizations as may
be required under state securities or blue sky laws in connection with the purchase and distribution of the Securities by the Underwriters.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">The Indenture has been duly qualified under the Trust Indenture Act and the Indenture has been duly authorized,
executed and delivered by the Bank and constitutes a legal, valid and binding obligation of the Bank, enforceable in accordance with its
terms, except as enforcement thereof may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization or similar laws relating
to or affecting creditors&rsquo; rights generally and general principles of equity and subject to the qualification that equitable remedies
may only be granted in the discretion of a court of competent jurisdiction (the <B>Enforceability Exceptions</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify">The Securities have been duly authorized by the Bank and, when executed by the Bank and authenticated
by the Trustee in accordance with the provisions of the Indenture and delivered to and paid for by the Underwriters in accordance with
the terms of this Agreement, will constitute valid and binding obligations of the Bank, enforceable in accordance with their terms, subject
to the Enforceability Exceptions, and the Securities will be entitled to the benefits of the Indenture and the Securities conform, or
will conform, to the description thereof in the Time of Sale Prospectus and the Prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify">The consolidated financial statements of the Bank included or incorporated by reference in the Time of
Sale Prospectus, the Prospectus and the Registration Statement, together with the related schedules and notes, present fairly in all material
respects the consolidated financial position of the Bank and its subsidiaries at the dates indicated and the consolidated results of operations
and the consolidated changes in financial position of the Bank and its subsidiaries for the periods specified; and such consolidated financial
statements, together with the related schedules and notes, have been prepared in conformity with International Financial Reporting Standards
as issued by the International Accounting Standards Board (<B>IFRS</B>), including the accounting requirements of the Office of the Superintendent
of Financial Institutions (Canada), consistently applied throughout the periods involved, except as disclosed therein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(s)</TD><TD STYLE="text-align: justify">There is no action, suit, proceeding, inquiry or investigation before or brought by any court or any federal,
provincial, state, municipal or other governmental department, commission, board, agency or body, domestic or foreign, now pending, or,
to the knowledge of the Bank, threatened against or affecting the Bank or any of its subsidiaries (i) other than proceedings described
in all material respects in the Time of Sale Prospectus and proceedings that would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect or (ii) that is required to be described in the Registration Statement or the Prospectus and
is not so described.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(t)</TD><TD STYLE="text-align: justify">Except as disclosed in the Time of Sale Prospectus, there are no contracts, agreements or understandings
between the Bank and any person that would give rise to a valid claim against the Bank or any Underwriter for a brokerage commission,
finder&rsquo;s fee or other like payment in connection with the offering of the Securities contemplated hereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(u)</TD><TD STYLE="text-align: justify">Except as set forth in the Time of Sale Prospectus, neither the Bank nor any of the Bank&rsquo;s subsidiaries
is a party to any contract with or other undertaking to, or is subject to any governmental order by, or is a recipient of any presently
applicable supervisory letter or other written communication of any kind from, any governmental authority which reasonably would be expected
to have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">The Bank is not, and after giving effect to the offering and sale of the Securities and the application
of the proceeds thereof as described under &ldquo;Use of Proceeds&rdquo; in the Time of Sale Prospectus and the Prospectus, will not be,
required to register as an &ldquo;investment company&rdquo; as such term is defined in the Investment Company Act of 1940, as amended.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(w)</TD><TD STYLE="text-align: justify">Ernst &amp; Young LLP, Chartered Professional Accountants, Licensed Public Accountants, Toronto, Ontario,
is the external auditor who prepared the Reports of Independent Registered Public Accounting Firm to the shareholders and directors of
the Bank in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the <B>PCAOB</B>) &ndash;
which includes the reports on the Bank&rsquo;s consolidated financial statements and internal control over financial reporting. Ernst
&amp; Young LLP is an independent registered public accounting firm as required by the Securities Act and the rules and regulations of
the Commission and the rules and regulations of the PCAOB.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify">Neither the Bank nor any of its Significant Subsidiaries has taken, directly or indirectly, any action
designed to cause or result in, or which might cause or result in, the stabilization or manipulation of the price of the Securities to
facilitate the sale or resale of the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(y)</TD><TD STYLE="text-align: justify">The Bank maintains a system of internal control over financial reporting (as such term is defined in Rule
13a-15(f) under the Exchange Act) that has been designed by the Bank&rsquo;s principal executive officer and principal financial officer,
or under their supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with IFRS. The management of the Bank concluded that such internal control over financial
reporting was effective as of October 31, 2024. Except as disclosed in the Time of Sale Prospectus, since October 31, 2024, there has
been no change in the Bank&rsquo;s internal control over financial reporting that has materially affected, or is reasonably likely to
materially affect, the Bank&rsquo;s internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(z)</TD><TD STYLE="text-align: justify">The Bank maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under
the Exchange Act) that have been designed to ensure that material information relating to the Bank and its subsidiaries is made known
to the Bank&rsquo;s principal executive officer and principal financial officer by others within those entities. Based on the evaluation
of these disclosure controls and procedures, the Bank&rsquo;s Chief Executive Officer and Chief Financial Officer concluded that the Bank&rsquo;s
disclosure controls and procedures were effective as of October 31, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(aa)</TD><TD STYLE="text-align: justify">None of the Bank or any of its subsidiaries nor, to the knowledge of the Bank, any director, officer,
agent, employee or controlled affiliate of the Bank or any of its subsidiaries has violated, or is in violation of, any provision of the
Corruption of Foreign Public Officials Act (Canada), the United Kingdom Bribery Act 2010, the U.S. Foreign Corrupt Practices Act of 1977,
as amended, and the rules and regulations thereunder (the <B>FCPA)</B>, or any applicable similar law or regulation of any other jurisdiction
(collectively, the <B>Anti-Corruption Legislation</B>), including, without limitation, (i) making use of the mails or any means or instrumentality
of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or
other property, gift, promise to give, or authorization of the giving of anything of value to any &ldquo;foreign official&rdquo; (as such
term is defined in the FCPA), any foreign political party or official thereof or any candidate for foreign political office, or (ii) making,
authorizing, promising to make, authorizing the giving of, accepting, requesting or agreeing to receive a bribe or other unlawful payment
prohibited under the Anti-Corruption Legislation, in either case, if it would have a material adverse effect on the offer of the Securities
as contemplated by this Agreement; and the Bank and its subsidiaries and controlled affiliates maintain at all times adequate systems,
controls and procedures reasonably designed to comply with the Anti-Corruption Legislation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(bb)</TD><TD STYLE="text-align: justify">The operations of the Bank and its subsidiaries are and have been conducted in all material respects in
compliance with the applicable financial recordkeeping and reporting requirements and anti-money laundering statutes of all jurisdictions
to which the Bank and its subsidiaries are subject and the rules and regulations thereunder and any related or similar rules, regulations
or guidelines, issued, administered or enforced by any applicable governmental agency, including without limitation, the Proceeds of Crime
(Money Laundering) and Terrorist Financing Act (Canada) and the Currency and Foreign Transactions Reporting Act of 1970 (the <B>Bank Secrecy
Act</B>), as amended by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001 (the <B>USA PATRIOT Act</B>) (collectively, the <B>Anti-Money Laundering Laws</B>), and no action, suit or proceeding by or
before any court or governmental agency, authority or body or any arbitrator involving the Bank or any of its subsidiaries with respect
to the Anti-Money Laundering Laws is pending or, to the best knowledge of the Bank, threatened which would have a material adverse effect
on the offer of the Securities as contemplated by this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(cc)</TD><TD STYLE="text-align: justify">None of the Bank or any of its subsidiaries nor, to the knowledge of the Bank, any director, officer,
agent, employee or controlled affiliate of the Bank or any of its subsidiaries (i) is the subject of any sanctions administered, enacted
or enforced by the Office of Foreign Assets Control of the U.S. Department of the Treasury (<B>OFAC</B>) or any other U.S., Canadian,
European Union, United Nations or United Kingdom economic sanctions or any equivalent sanctions authority with jurisdiction over the Bank
(collectively, <B>Sanctions</B>) or is owned or controlled by, or (to the best of the Bank&rsquo;s knowledge) acting on behalf or at the
direction of a person or entity that is the subject of Sanctions; (ii) has any business or financial dealings with any person on OFAC&rsquo;s
Specially Designated Nationals and Blocked Persons List or equivalent list relating to Sanctions or who is otherwise a subject of Sanctions,
or any person or entity who is owned or controlled by, or (to the best of the Bank&rsquo;s knowledge) acting on behalf or at the direction
of any such person or entity; or (iii) is located, organized or resident in a country or territory that is, or whose government is, the
subject of Sanctions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The Bank will not directly
or indirectly use the proceeds of any offering of the Securities hereunder, or lend, contribute or otherwise make available all or any
part of such proceeds (i) to any subsidiary, joint venture partner or other person or entity, to fund or finance the activities of, or
activities with any person in any country or territory, that at the time of such funding or financing is, or whose government is, the
subject of any Sanctions (or any person or entity who is owned or controlled by, or (to the best of the Bank&rsquo;s knowledge) acting
on behalf or at the direction of any such person); or (ii) to a person or entity identified on a list established under section 83.05
of the Criminal Code (Canada) or in any orders or regulations promulgated under the United Nations Act (Canada), the Special Economic
Measures Act (Canada), the Freezing Assets of Corrupt Foreign Officials Act (Canada), or the Justice for Victims of Corrupt Foreign Officials
Act (Sergei Magnitsky Law) (Canada); or (iii) in any other manner that would result in the Bank or subsidiary, joint venture partner or
any person or entity, being in breach of any Sanctions.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Agreements to Sell and Purchase</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Bank hereby agrees to sell to the
several Underwriters, and each Underwriter, upon the basis of the representations and warranties herein contained, but subject to the
conditions hereinafter stated, agrees, severally and not jointly, to purchase from the Bank the respective principal amounts of Securities
set forth in Schedule 2 hereto opposite its name at the applicable purchase price set forth in Schedule 4 hereto.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Public Offering</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Bank is advised by the Representatives
that the Underwriters propose to make a public offering of their respective portions of the Securities as soon after this Agreement has
been entered into as in the Representatives&rsquo; judgment is advisable. The Bank is further advised by the Representatives that the
Securities are to be offered to the public upon the terms set forth in the Time of Sale Prospectus and the Prospectus.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Payment and Delivery</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Payment for the Securities shall be
made to or upon the order of the Bank by wire transfer payable in funds immediately available to an account specified by the Bank on the
Closing Date and time set forth in Schedule 1 hereto, or at such other time on the same or such other date, not later than the fifth business
day thereafter, as may be reasonably designated by the Representatives in writing. The time and date of such payment are herein referred
to as the <B>Time of Delivery</B> and such date, the <B>Closing Date</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">At the Time of Delivery, the Bank shall
pay the Underwriters fees (the Underwriters&rsquo; Fees) equal to 0.150% of the aggregate principal amount of the Floating Rate Notes,
0.150% of the aggregate principal amount of the 2028 Fixed-to-Floating Rate Notes and 0.350% of the aggregate principal amount of the
2031 Fixed-to-Floating Rate Notes. The parties agree that the Underwriters shall set off the Underwriters&rsquo; Fees against a portion
of the purchase price payable to the Bank in an amount equal to the Underwriters&rsquo; Fees and payment by the Underwriters to the Bank
in accordance with the above paragraph of the purchase price net of the Underwriters&rsquo; Fees shall be full satisfaction of the Underwriters&rsquo;
obligation to pay the purchase price for the Securities and of the Bank&rsquo;s obligation to pay the Underwriters&rsquo; Fees. For the
avoidance of doubt, the purchase price applicable to the respective principal amounts of Securities set forth in Schedule 4 hereto is,
in each case, presented on a gross basis, without netting of the applicable Underwriters&rsquo; Fee payable pursuant to this Section 4.
Delivery of the Securities shall be made to the Representatives for the respective accounts of the several Underwriters against payment
by the several Underwriters through the Representatives of the purchase price thereof. Delivery of the Securities shall be made through
the facilities of The Depository Trust Company unless the Representatives shall otherwise instruct and agree to with the Bank.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">Conditions to the Underwriters&rsquo; Obligations</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The several obligations of the Underwriters
are subject, in the discretion of the Representatives, to the condition that all representations and warranties and other statements of
the Bank in this Agreement as at the date hereof and at, and as of, the Time of Delivery, are true and correct, the condition that the
Bank shall have performed all of its obligations hereunder theretofore to be performed, and the following additional conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify; width: 0.5in">(i)</TD>
                                                               <TD STYLE="text-align: justify">the Prospectus shall have been filed with the Commission pursuant to Rule 424(b) under the Securities Act within the applicable time
period prescribed for such filing thereunder and in accordance with Section 6(a) hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">no order having the effect of ceasing or suspending the distribution of the Securities or stop order suspending
the effectiveness of the Registration Statement or any part thereof or having the effect of preventing or suspending the use of any prospectus
relating to the Securities shall have been issued and no proceeding for that purpose shall have been initiated or, to the knowledge of
the Bank, threatened by the Commission; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">all requests for additional information on the part of the Commission shall have been complied with to
the Representatives&rsquo; reasonable satisfaction.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Subsequent to the execution and delivery of this Agreement and prior to the Time of Delivery:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">there shall not have occurred any downgrading, nor shall any notice have been given of any intended or
potential downgrading or of any review for a possible change that does not indicate the direction of the possible change, in the rating
accorded any of the debt securities of the Bank or any of its Significant Subsidiaries by any &ldquo;nationally recognized statistical
rating organization,&rdquo; as such term is used in section 3(a)(62) under the Exchange Act; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">there shall not have occurred any change, or any development involving a prospective change, in the condition,
financial or otherwise, or in the earnings, business or operations of the Bank and its subsidiaries, taken as a whole, from that set forth
in the Time of Sale Prospectus that, in the judgment of the Representatives, is material and adverse and that makes it, in the judgment
of the Representatives, impracticable to market the Securities on the terms and in the manner contemplated in the Time of Sale Prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Underwriters shall have received on the Closing Date a certificate, dated the Closing Date and signed
by an officer of the Bank, in his or her capacity as such officer only, to the effect set forth in Section 5(a)(ii) and Section 5(b)(i)
above and to the effect that the representations and warranties of the Bank contained in this Agreement are true and correct as of the
Closing Date and that the Bank has complied with all of the agreements and satisfied all of the conditions on its part to be performed
or satisfied hereunder on or before the Closing Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The Underwriters shall have received on the Closing Date a certificate, dated the Closing Date and signed
by an officer of the Bank, in his or her capacity as such officer only, to the effect that, other than as set forth in the Time of Sale
Prospectus and the Prospectus, to his or her knowledge, there is no action, proceeding or investigation pending or threatened by or against
the Bank or any of its Significant Subsidiaries, at law or in equity, before or by any federal, provincial, state, municipal or other
governmental department, commission, board or agency, domestic or foreign, which questions the validity of the issuance of the Securities
or of any action taken or to be taken by the Bank pursuant to this Agreement or in connection with the issuance of the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The officer signing and delivering such
certificate may rely upon the best of his or her knowledge as to proceedings threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The Underwriters shall have received on the Closing Date an opinion of Blake, Cassels &amp; Graydon LLP,
Canadian counsel for the Bank, dated the Closing Date, in substantially the form attached hereto as Exhibit A-1. Blake, Cassels &amp;
Graydon LLP may limit their opinion to matters arising under the laws of the Province of Ontario and the federal laws of Canada applicable
therein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">The Underwriters shall have received on the Closing Date an opinion of Willkie Farr &amp; Gallagher LLP,
United States counsel for the Bank, dated the Closing Date, in substantially the form attached hereto as Exhibit A-2. Willkie Farr &amp;
Gallagher LLP may limit their opinion to matters arising under the laws of the State of New York and the federal laws of the United States
of America.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">The Underwriters shall have received on the Closing Date an opinion of Allen Overy Shearman Sterling US
LLP, United States counsel for the Underwriters, dated the Closing Date, in form and substance reasonably satisfactory to the Representatives.
Allen Overy Shearman Sterling US LLP may limit their opinion to matters arising under the laws of the State of New York and the federal
laws of the United States of America.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The opinions of counsel for the Bank described
in subsections (e) and (f) above shall be rendered to the Underwriters at the request of the Bank and shall so state therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">The Underwriters shall have received, on each of the date hereof and the Closing Date, a letter dated
the date hereof or the Closing Date, as the case may be, in form and substance satisfactory to the Underwriters, from Ernst &amp; Young
LLP, containing statements and information of the type ordinarily included in accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters
with respect to the financial statements and certain financial information contained in the Registration Statement, the Time of Sale Prospectus
and the Prospectus, as amended or supplemented, if applicable <I>provided</I> that (i) the letter delivered on the date hereof shall use
a &ldquo;cut off&rdquo; date no more than three business days prior to the date hereof and (ii) the letter delivered on the Closing Date
shall use a &ldquo;cut off&rdquo; date no more than three business days prior to the Closing Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Prior to or on the Closing Date, the Representatives shall have been furnished by the Bank such additional
documents and certificates as the Representatives or counsel for the Underwriters may reasonably request.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">All opinions, certificates, letters and
documents referred to in this Section 5 will be in compliance with the provisions of this Agreement only if they are satisfactory in form
and substance to the Representatives and to counsel for the Underwriters. The Bank will furnish to the Representatives conformed copies
of such opinions, certificates, letters and other documents in such number as the Representatives will reasonably request.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">Covenants of the Bank</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Bank covenants with each Underwriter
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">To prepare the Prospectus in a form reasonably approved by the Representatives and to file the Prospectus
with the Commission pursuant to Rule 424(b) under the Securities Act not later than the Commission&rsquo;s close of business on the second
business day following the execution and delivery of this Agreement; before amending or supplementing the Registration Statement, the
Time of Sale Prospectus or the Prospectus prior to the Time of Delivery, to furnish to the Representatives a copy of each such proposed
amendment or supplement and not to file any such proposed amendment or supplement to which the Representatives shall have reasonably objected
in a timely manner by written notice to the Bank; to file promptly all reports required to be filed by the Bank with the Commission pursuant
to Section 13(a), 13(c) or 15(d) of the Exchange Act for so long as the delivery of a prospectus is required in connection with the offering
or sale of the Securities, and during such same period to advise the Representatives, promptly after it receives notice thereof, (A) of
the time when any amendment to the Registration Statement has been filed or becomes effective or any supplement to the Preliminary Prospectus
or the Prospectus has been filed, in each case, as applicable, with the Commission, (B) of the issuance by the Commission of any stop
order or of any order preventing or suspending the use of any prospectus relating to the Securities or the effectiveness of the Registration
Statement, (C) of the suspension of the qualification of the Securities for offering or sale in any jurisdiction or the initiation or
threatening of any proceeding for any such purpose, or (D) of any request by the Commission for the amending or supplementing of the Registration
Statement, the Base Prospectus, the Preliminary Prospectus, the Time of Sale Prospectus or the Prospectus or for additional information
relating to the Securities; and, in the event of the issuance of any such stop order or of any such order preventing or suspending the
use of any prospectus relating to the Securities or suspending any such qualification, to promptly use its best efforts to obtain the
withdrawal of such order.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">To endeavor to qualify the Securities for offer and sale under the securities or Blue Sky laws of such
jurisdictions as the Representatives shall reasonably request; <I>provided </I>that in no event shall the Bank be obligated to qualify
to do business in any jurisdiction where it is not now so qualified, to file any general consent to service of process or to take any
action that would subject it to general service of process or to taxation in any jurisdiction where it is not now so subject.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">To furnish to the Representatives, without charge, and to each of the Underwriters, so long as delivery
of a prospectus by an Underwriter or dealer may be required by the Securities Act, as many copies of the Time of Sale Prospectus, the
Prospectus, any documents incorporated therein by reference and any supplements and amendments thereto as the Representatives may reasonably
request.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">To furnish to the Representatives a copy of each proposed free writing prospectus to be used by, or referred
to by, the Bank and not to use or refer to any proposed free writing prospectus to which the Representatives reasonably objects. Each
free writing prospectus conformed or will conform in all material respects to the requirements of the Securities Act and the rules and
regulations of the Commission on the date of first use, and the Bank will comply with any filing requirements applicable to such free
writing prospectus pursuant to Rule 433 of the rules and regulations of the Commission and each free writing prospectus will not, as of
its issue date and through the time the Securities are delivered, include any information that conflicts with the information contained
in the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Other than the filing with the Commission of the final term sheet substantially in the form set forth
in Schedule 4 hereto, not to knowingly take any action that would result in an Underwriter or the Bank being required to file with the
Commission pursuant to Rule 433(d) under the Securities Act a free writing prospectus prepared by or on behalf of the Underwriter that
the Underwriter otherwise would not have been required to file thereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">If the Time of Sale Prospectus is being used to solicit offers to buy the Securities at a time when the
Prospectus is not yet available to prospective purchasers and any event shall occur or condition exist as a result of which it is necessary
to amend or supplement the Time of Sale Prospectus in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading, or if any event shall occur or condition exist as a result of which the Time of Sale Prospectus conflicts
with the information contained in the Registration Statement then on file, or if it is necessary to amend or supplement the Time of Sale
Prospectus or to file under the Exchange Act any document incorporated by reference in the Time of Sale Prospectus in order to comply
with the Securities Act, the Exchange Act or the Trust Indenture Act, forthwith to notify the Representatives and, upon the request of
the Representatives, prepare, file with the Commission, as applicable, and furnish, at its own expense, to the Underwriters and to any
dealer upon request, either amendments or supplements to the Time of Sale Prospectus so that the statements in the Time of Sale Prospectus
as so amended or supplemented will not, in the light of the circumstances when delivered to a prospective purchaser, be misleading or
so that the Time of Sale Prospectus, as amended or supplemented, will no longer conflict with the Registration Statement, or so that the
Time of Sale Prospectus, as amended or supplemented, will comply with applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">If, during such period after the filing of the Prospectus with the Commission, the Prospectus (or in lieu
thereof the notice referred to in Rule 173(a) under the Securities Act) is required by law to be delivered in connection with sales by
an Underwriter or dealer, any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Prospectus
in order to make the statements therein, in the light of the circumstances when the Prospectus (or in lieu thereof the notice referred
to in Rule 173(a) under the Securities Act) is delivered to a purchaser, not misleading, or if it is necessary to amend or supplement
the Prospectus or to file under the Exchange Act any document incorporated by reference in the Prospectus in order to comply with the
Securities Act, the Exchange Act or the Trust Indenture Act, forthwith to notify the Representatives, and, upon the request of the Representatives,
prepare, file with the Commission, as applicable, and furnish, at its own expense, to the Underwriters and to the dealers (whose names
and addresses the Representatives will furnish to the Bank) to which Securities may have been sold by the Representatives on behalf of
the Underwriters and to any other dealers upon request, either amendments or supplements to the Prospectus so that the statements in the
Prospectus as so amended or supplemented will not, in the light of the circumstances when the Prospectus (or in lieu thereof the notice
referred to in Rule 173(a) under the Securities Act) are delivered to a purchaser, be misleading or so that the Prospectus, as amended
or supplemented, will comply with applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">To make generally available to the Bank&rsquo;s security holders and to the Representatives as soon as
practicable, but in any event not later than eighteen months after the effective date (as defined in Rule 158(c) under the Securities
Act) of the Registration Statement, an earnings statement of the Bank and its subsidiaries (which need not be audited) covering a period
of at least twelve months beginning with the first fiscal quarter of the Bank occurring after the date of this Agreement which shall satisfy
the provisions of Section 11(a) of the Securities Act and the rules and regulations of the Commission thereunder; <I>provided </I>that
the Bank may make such earnings statements generally available by filing quarterly and annual reports with the Commission as may be required
by the Exchange Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Whether or not the transactions contemplated in this Agreement are consummated or this Agreement is terminated,
to pay or cause to be paid all expenses incident to the performance of its obligations under this Agreement, including: (i) the fees,
disbursements and expenses of the Bank&rsquo;s counsel and the Bank&rsquo;s accountants in connection with the preparation and filing
of the Base Prospectus, the Preliminary Prospectus, the Prospectus and any amendment or supplement thereof with the Commission, the registration
and delivery of the Securities under the Securities Act and all other fees or expenses in connection with the preparation and filing of
the Registration Statement, the Base Prospectus, the Preliminary Prospectus, the Time of Sale Prospectus, the Prospectus, any free writing
prospectus prepared by or on behalf of, used by, or referred to by the Bank and amendments and supplements to any of the foregoing, including
the filing fees payable to the Commission relating to the Securities, all printing costs associated therewith, and the mailing and delivering
of copies thereof to the Underwriters and dealers, in the quantities hereinabove specified, (ii) all costs and expenses related to the
transfer and delivery of the Securities to the Underwriters, including any transfer or similar taxes payable thereon, (iii) the cost of
printing or producing any Blue Sky or legal investment memorandum in connection with the offer and sale of the Securities under state
securities laws and all expenses in connection with the qualification of the Securities for offer and sale under state securities laws
as provided in Section 6(b) hereof, including filing fees and the reasonable and documented fees and disbursements of counsel for the
Underwriters in connection with such qualification and in connection with the Blue Sky or legal investment memorandum, (iv) all filing
fees and the reasonable and documented fees and disbursements of counsel to the Underwriters incurred in connection with the review and
qualification of the offering of the Securities by the Financial Industry Regulatory Authority, Inc., (v) any fees charged by the rating
agencies for the rating of the Securities, (vi) the cost of the preparation, issuance and delivery of the Securities, (vii) the fees and
expenses of any Trustee and any agent of any Trustee and the reasonable fees and disbursements of counsel for any Trustee in connection
with any Indenture and the Securities, (viii) the costs and expenses of the Bank relating to investor presentations on any &ldquo;road
show&rdquo; undertaken in connection with the marketing of the offering of the Securities, including, without limitation, expenses associated
with the preparation or dissemination of any electronic road show, expenses associated with the production of road show slides and graphics,
fees and expenses of any consultants engaged in connection with the road show presentations with the prior approval of the Bank, and travel
and lodging expenses of the representatives and officers of the Bank and any such consultants (ix) the document production charges and
expenses associated with printing this Agreement, (x) the services of Ernst &amp; Young LLP, (xi) the services of Willkie Farr &amp; Gallagher
LLP and Blake, Cassels &amp; Graydon LLP and (xii) all other costs and expenses incident to the performance of the obligations of the
Bank hereunder for which provision is not otherwise made in this Section 6. It is understood, however, that, except as provided in this
Section 6, Section 8 entitled &ldquo;Indemnity and Contribution,&rdquo; and the last paragraph of Section 9 below, the Underwriters will
pay all of their own costs and expenses including, transfer taxes payable on resale of any of the Securities by them, any advertising
expenses connected with any offers they may make and the fees and disbursements of their counsel.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">During the period beginning on the date hereof and continuing to and including the Closing Date, not to
offer, sell, contract to sell or otherwise dispose of in the United States any debt securities of the Bank or warrants to purchase or
otherwise acquire debt securities of the Bank substantially similar to the Securities (other than (i) the Securities, (ii) commercial
paper or Yankee certificates of deposit with a maturity of no more than 12 months issued in the ordinary course of business or (iii) securities
or warrants permitted with the prior written consent of the Representatives).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">To prepare a final term sheet relating to the offering of the Securities, containing only information
that describes the final terms of the Securities or the offering in a form consented to by the Representatives (such consent not to be
unreasonably withheld), and to file such final term sheet within two days of the later of the date such final terms have been established
for the offering of the Securities and the date of first use.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">The Bank will not take, directly or indirectly, any action designed to cause or result in, or that might
cause or result in, stabilization or manipulation of the price of the Securities to facilitate the sale or resale of the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">The Bank and each Underwriter, on a several basis, covenants and agrees that, during the distribution
of the Securities, it will not provide any potential investor with any materials or information in relation to the offer and sale of the
Securities or the Bank other than the Preliminary Prospectus, the Prospectus, the free writing prospectus, and any amendments or supplements
to the foregoing in accordance with this Agreement.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">COVENANTS of the Underwriters</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Each Underwriter represents and warrants to, and agrees with, the Bank and each other Underwriter that
it has not made, and will not make, any offer relating to the Securities that would constitute a free writing prospectus without the prior
consent of the Bank and the Representatives (such consent not to be unreasonably withheld), <I>provided, however</I>, that prior to the
preparation of the final term sheet substantially in the form set forth in Schedule 4 hereto, the Underwriters are authorized to use a
free writing prospectus that contains only information (i) describing the preliminary terms of the Securities or their offering or (ii)
describing the final terms of the Securities which will not be inconsistent with the final term sheet substantially in the form set forth
in Schedule 4 hereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Each Underwriter represents and agrees that it has not offered or sold, directly or indirectly, and that
it will not, directly or indirectly, offer, sell or deliver, any of the Securities in or from Canada or to any resident of Canada, provided
that the Underwriters may, in their discretion, resell such Securities to the Canadian investment dealer affiliate of CIBC World Markets
Corp. Each Underwriter further agrees that it will include a comparable provision in any sub-underwriting, banking group or selling group
agreement or similar arrangement with respect to the Securities that may be entered into by such Underwriter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">CIBC World Markets Corp. further agrees
that (i) any offer or sale by its Canadian investment dealer affiliate of the Notes, as contemplated in the paragraph above, purchased
by it hereunder in Canada or to any resident of Canada shall only be effected on a private placement basis in accordance with applicable
exemptions under the applicable securities laws in the relevant jurisdictions; and (ii) neither it nor its Canadian investment dealer
affiliate will distribute or deliver the Prospectus or Prospectus Supplement or any other offering material relating to Securities purchased
by it hereunder, in Canada in contravention of the securities laws or regulations of any province or territory of Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Each Underwriter represents and warrants to, and agrees with, the Bank that none of the payments to be
made to the Underwriter by the Bank under this Agreement shall be for services rendered in Canada by or on behalf of such Underwriter.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">Indemnity and Contribution</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Bank agrees to indemnify and hold harmless each Underwriter, each person, if any, who controls any
Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, each affiliate of any Underwriter
within the meaning of Rule 405 under the Securities Act and any agent of any Underwriter from and against any and all losses, claims,
damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or
investigating any such action or claim) caused by or based upon any untrue statement or alleged untrue statement of a material fact contained
in the Registration Statement or any amendment thereof, the Base Prospectus, the Preliminary Prospectus, the Time of Sale Prospectus,
any issuer free writing prospectus or road show, each as defined in Rule 433(h) under the Securities Act, and, in the case of a road show,
as identified on Schedule 5 hereto, any Bank information that the Bank has filed, or is required to file, pursuant to Rule 433(d) under
the Securities Act or the Prospectus or any amendment or supplement thereto, or caused by any omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses,
claims, damages or liabilities are caused by any such untrue statement or omission or alleged untrue statement or omission based upon
information relating to any Underwriter furnished to the Bank in writing by such Underwriter through the Representatives expressly for
use therein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Bank, its directors,
its officers who sign the Registration Statement and each person, if any, who controls the Bank within the meaning of either Section 15
of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Bank to such Underwriter,
but only with reference to information relating to such Underwriter furnished to the Bank in writing by such Underwriter through the Representatives
expressly for use in the Registration Statement or any amendment thereof, the Base Prospectus, any preliminary prospectus, the Time of
Sale Prospectus, the Prospectus or any amendment or supplement thereto, any issuer free writing prospectus or road show, each as defined
in Rule 433(h) under the Securities Act, and, in the case of a road show, as identified on Schedule 5 hereto, or any amendment or supplement
thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">In case any proceeding (including any governmental investigation) shall be instituted involving any person
in respect of which indemnity may be sought pursuant to Section 8(a) or 8(b), such person (the <B>indemnified party</B>) shall promptly
notify the person against whom such indemnity may be sought (the <B>indemnifying party</B>) in writing and the indemnifying party, upon
request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party
and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related
to such proceeding; <I>provided, however</I>, that the failure to so notify the indemnifying party will not relieve it from any liability
which it may have under this Section 8 except to the extent it has been prejudiced in any material respect by such failure or from any
liability which it may have to an indemnified party otherwise under this Section 8. In any such proceeding, any indemnified party shall
have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party
unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named
parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation
of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, including that
the Underwriters have been advised by counsel that there may be one or more legal defenses available to the Underwriters which are different
from or additional to those available to the Bank and in the judgment of such counsel it is advisable for the Underwriters to employ separate
counsel or (iii) the Bank has failed to assume the defense of such action and employ counsel satisfactory to the Underwriters, in which
event the fees and expenses of such separate counsel will be paid by the Bank. It is understood that the indemnifying party shall not,
except as noted in the preceding sentence, in respect of the legal expenses of any indemnified party in connection with any proceeding
or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any
local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm
shall be designated in writing by the Representatives, in the case of parties indemnified pursuant to Section 8(a), and by the Bank, in
the case of parties indemnified pursuant to Section 8(b). The indemnifying party shall not be liable for any settlement of any proceeding
effected without its written consent (which consent will not be unreasonably withheld), but if settled with such consent or if there be
a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability
by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested
an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences
of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written
consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and
(ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such
settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending
or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought
hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability
on claims that are the subject matter of such proceeding and does not include any statements as to or any findings of fault, culpability
or failure to act by or on behalf of any indemnified party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">To the extent the indemnification provided for in Section 8(a) or Section 8(b) is unavailable to an indemnified
party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under
such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified
party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits
received by the Bank on the one hand and the Underwriters on the other hand from the offering of the Securities or (ii) if the allocation
provided by clause 8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause 8(d)(i) above but also the relative fault of the Bank on the one hand and of the Underwriters on the other
hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other
relevant equitable considerations. The relative benefits received by the Bank on the one hand and the Underwriters on the other hand in
connection with the offering of the Securities shall be deemed to be in the same respective proportions as the net proceeds from the offering
of the Securities (before deducting expenses) received by the Bank and the total underwriting discounts and commissions received by the
Underwriters bear to the aggregate initial public offering price of the Securities as set forth in the Prospectus. The relative fault
of the Bank on the one hand and the Underwriters on the other hand shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information
supplied by the Bank or by the Underwriters and the parties&rsquo; relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. The Underwriters&rsquo; respective obligations to contribute pursuant to this Section 8
are several in proportion to the respective principal amounts of Securities they have purchased hereunder, and not joint.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The Bank and the Underwriters agree that it would not be just or equitable if contribution pursuant to
Section 8(d) were determined by <I>pro rata </I>allocation (even if the Underwriters were treated as one entity for such purpose) or by
any other method of allocation that does not take account of the equitable considerations referred to in Section 8(d). The amount paid
or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 8(d) shall be deemed
to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection
with investigating or defending any such action or claim which is subject to Section 8(d). Notwithstanding the provisions of Section 8(d),
no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Securities underwritten
by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies
which may otherwise be available to any indemnified party at law or in equity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">The indemnity and contribution provisions contained in this Section 8 and the representations, warranties
and other statements of the Bank contained in this Agreement shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of any Underwriter, any person controlling any Underwriter
or any affiliate of any Underwriter or by or on behalf of the Bank, its officers or directors or any person controlling the Bank and (iii)
acceptance of and payment for any of the Securities.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">Termination</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Underwriters may terminate this Agreement by notice given by the Representatives to the Bank, if after
the execution and delivery of this Agreement and prior to the Time of Delivery (i) trading generally shall have been suspended or materially
limited on, or by, as the case may be, any of the New York Stock Exchange or the Toronto Stock Exchange, (ii) trading of any securities
of the Bank shall have been suspended or materially limited on any exchange or in any over-the-counter market, (iii) a material disruption
in securities settlement, payment or clearance services in the United States or Canada shall have occurred, (iv) any moratorium on commercial
banking activities shall have been declared by U.S. federal, New York State, Canadian federal or Ontario provincial authorities, (v) there
shall have occurred any outbreak or escalation of hostilities involving the United States or Canada or there shall have been a declaration
of a national emergency or war by the United States or Canada, or (vi) any material adverse change in financial markets in the United
States or Canada should be such as to make it, in the judgment of the Representatives, impracticable or inadvisable to proceed with the
offer, sale or delivery of the Securities on the terms and in the manner contemplated in the Time of Sale Prospectus or the Prospectus.
Any termination of this Agreement pursuant to this Section 9 will be without liability on the part of the Bank or any Underwriter, except
as otherwise provided in Sections 6(j), 8 and 9(b) hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">If the sale of the Securities provided for herein is not consummated by reason of acts of the Bank or
changes in circumstances of the Bank pursuant to this Section 9 which prevent this Agreement from becoming effective, or by reason of
any failure, refusal or inability on the part of the Bank to perform any agreement on its part to be performed or because any other condition
of the Underwriters&rsquo; obligations hereunder is not fulfilled or if the Underwriters decline to purchase the Securities for any reason
permitted under this Agreement, the Bank will reimburse the Underwriters for all reasonable out-of-pocket disbursements (including fees
and expenses of counsel to the Underwriters) incurred by the Underwriters in connection with any investigation or preparation made by
them in respect of the marketing of the Securities or in contemplation of the performance by them of their obligations hereunder.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify">Effectiveness; Defaulting Underwriters</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">This Agreement shall become effective
<I>upon </I>the execution and delivery hereof by the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If, on the Closing Date, any one or
more of the Underwriters shall fail or refuse to purchase Securities that it has or they have agreed to purchase hereunder on such date,
and the aggregate principal amount of Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase
is not more than one-tenth of the aggregate principal amount of the Securities to be purchased on such date, the other Underwriters shall
be obligated severally in the proportions that the principal amount of Securities set forth opposite their respective names in Schedule
2 bears to the aggregate principal amount of Securities set forth opposite the names of all such non-defaulting Underwriters, or in such
other proportions as the Representatives may specify, to purchase the Securities which such defaulting Underwriter or Underwriters agreed
but failed or refused to purchase on such date; <I>provided </I>that in no event shall the principal amount of Securities that any Underwriter
has agreed to purchase pursuant to this Agreement be increased pursuant to this Section 10 by an amount in excess of one-tenth of such
principal amount of Securities set forth opposite its name in Schedule 2 hereto without the written consent of such Underwriter. If, on
the Closing Date, any Underwriter or Underwriters shall fail or refuse to purchase Securities and the aggregate principal amount of Securities
with respect to which such default occurs is more than one-tenth of the aggregate principal amount of Securities to be purchased on such
date, and arrangements satisfactory to the Representatives and the Bank for the purchase of such Securities are not made within 36 hours
after such default, this Agreement shall terminate without liability on the part of any non-defaulting Underwriter or the Bank. In any
such case either the Representatives or the Bank shall have the right to postpone the Closing Date, but in no event for longer than seven
days, in order that the required changes, if any, in the Registration Statement, the Time of Sale Prospectus or the Prospectus, as amended
or supplemented, if applicable, or in any other documents or arrangements may be effected. Any action taken under this paragraph shall
not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify">Entire Agreement</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">This Agreement, together with any contemporaneous written agreements and any prior written agreements
(to the extent not superseded by this Agreement) that relate to the offering of the Securities, represents the entire agreement between
the Bank and the Underwriters with respect to the preparation of any preliminary prospectus, the Time of Sale Prospectus, the Prospectus,
the conduct of the offering, and the purchase and sale of the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Bank acknowledges that in connection with the offering of the Securities, notwithstanding any preexisting
relationship, advisory or otherwise, between the parties or any oral representations or assurances previously or subsequently made by
the Underwriters:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">no fiduciary or agency relationship between the Bank and any other person, on the one hand, and the Underwriters,
on the other hand, exists (except to the extent disclosed in the Registration Statement, the Preliminary Prospectus, the Time of Sale
Prospectus and Prospectus);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Underwriters are not acting as advisors, experts or otherwise, to the Bank, including, without limitation,
with respect to the determination of the public offering price of the Securities, and such relationship between the Bank, on the one hand,
and the Underwriters, on the other hand, is entirely and solely a commercial relationship, based on arms-length negotiations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the Underwriters owe the Bank only those duties and obligations set forth in this Agreement and prior
written agreements (to the extent not superseded by this Agreement), if any; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">the Underwriters may have interests that differ from those of the Bank. The Bank waives to the full extent
permitted by applicable law any claims it may have against the Underwriters arising from an alleged breach of fiduciary duty in connection
with the offering of the Securities.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">12.</TD><TD STYLE="text-align: justify">USA PATRIOT Act</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In accordance with the requirements
of the USA PATRIOT Act, the Underwriters are required to obtain, verify and record information that identifies their respective clients,
including the Bank, which information may include the name and address of their respective clients, as well as other information that
will allow the Underwriters to properly identify their respective clients.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">13.</TD><TD STYLE="text-align: justify">Information Furnished by Underwriters</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Underwriters severally confirm that
the information appearing in the list of names of each of the Underwriters under the caption &ldquo;Underwriting (Conflicts of Interest)&rdquo;
in the Preliminary Prospectus, the Time of Sale Prospectus and the Prospectus and the statements in the tenth and eleventh paragraphs
under the caption &ldquo;Underwriting (Conflicts of Interest)&rdquo; in the Preliminary Prospectus, the Time of Sale Prospectus and the
Prospectus, constitute the only written information furnished to the Bank by the Representatives on behalf of the Underwriters.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">14.</TD><TD STYLE="text-align: justify">Research Analyst Independence</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Bank acknowledges that the Underwriters&rsquo;
research analysts and research departments are required to be independent from their respective investment banking divisions and are subject
to certain regulations and internal policies, and that such Underwriters&rsquo; research analysts may hold views and make statements or
investment recommendations and/or publish research reports with respect to the Bank and/or the offering of the Securities that differ
from the views of their respective investment banking divisions. The Bank hereby waives and releases, to the fullest extent permitted
by law, any claims that the Bank may have against the Underwriters with respect to any conflict of interest that may arise from the fact
that the views expressed by their independent research analysts and research departments may be different from or inconsistent with the
views or advice communicated to the Bank by such Underwriters&rsquo; investment banking divisions. The Bank acknowledges that each of
the Underwriters is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions
for its own account or the account of its customers and hold long or short positions in debt or equity securities of the companies that
may be the subject of the transactions contemplated by this Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">15.</TD><TD STYLE="text-align: justify">Counterparts</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">This Agreement may be signed in two
or more counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same
instrument. This agreement may be executed by manual, facsimile or electronic signature, and signatures of the parties hereto transmitted
by electronic delivery methods shall be deemed to be their original signatures for all purposes and shall constitute effective execution
and delivery of this Agreement. The use of electronic signatures, records and delivery methods shall be of the same legal effect, validity
or enforceability as a manually executed signature and physical delivery thereof to the fullest extent permitted by applicable law, including
the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any
other applicable law.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">16.</TD><TD STYLE="text-align: justify">Applicable Law</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">This Agreement shall be governed by,
and construed in accordance with, the laws of the State of New York.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">17.</TD><TD STYLE="text-align: justify">Headings</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The headings of the sections of this
Agreement have been inserted for convenience of reference only and shall not be deemed a part of this Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">18.</TD><TD STYLE="text-align: justify">Notices</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">All communications hereunder shall be
in writing (including email) and effective only upon receipt and if to the Underwriters shall be delivered, mailed or sent to the Representatives
at the addresses set forth in Schedule 1 hereto; and if to the Bank shall be delivered, mailed or sent to the address set forth in Schedule
1 hereto.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">19.</TD><TD STYLE="text-align: justify">RECOGNITION OF THE U.S. Special Resolution Regimes</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">In the event that any Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S.
Special Resolution Regime, the transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement,
will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and
any such interest and obligation, were governed by the laws of the United States or a state of the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">In the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter
becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against
such Underwriter are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special
Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">As used in this Section 19:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">&ldquo;BHC Act Affiliate&rdquo; has the meaning assigned to the term &ldquo;affiliate&rdquo; in, and shall
be interpreted in accordance with, 12 U.S.C. &sect; 1841(k).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">&ldquo;Covered Entity&rdquo; means any of the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">&ldquo;covered entity&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
&sect; 252.82(b);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">a &ldquo;covered bank&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
&sect; 47.3(b); or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">a &ldquo;covered FSI&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
&sect; 382.2(b).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">&ldquo;Default Right&rdquo; has the meaning assigned to that term in, and shall be interpreted in accordance
with, 12 C.F.R. &sect;&sect; 252.81, 47.2 or 382.1, as applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">&ldquo;U.S. Special Resolution Regime&rdquo; means each of (i) the Federal Deposit Insurance Act and the
regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations
promulgated thereunder.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">20.</TD><TD STYLE="text-align: justify">[RESERVED]</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">21.</TD><TD STYLE="text-align: justify">Submission to Jurisdiction; Appointment of Agent for Service</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Bank irrevocably submits to the non-exclusive jurisdiction of any New York State or United States
Federal court sitting in The City of New York over any suit, action or proceeding arising out of or relating to this Agreement, the Prospectus,
the Registration Statement, or the transactions contemplated hereby or thereby. The Bank irrevocably waives, to the fullest extent permitted
by law, any objection which it may now or hereafter have to the laying of venue of any such suit, action or proceeding brought in such
a court and any claim that any such suit, action or proceeding brought in such a court has been brought in an inconvenient forum. To the
extent that the Bank has or hereafter may acquire any immunity (on the grounds of sovereignty or otherwise) from the jurisdiction of any
court or from any legal process with respect to itself or its property, the Bank irrevocably waives, to the fullest extent permitted by
law, such immunity in respect of any such suit, action or proceeding.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Bank hereby irrevocably appoints Achilles M. Perry of Canadian Imperial Bank of Commerce, with offices
at 300 Madison Avenue, New York, NY 10017 as its agent for service of process in any suit, action or proceeding described in the preceding
paragraph and agrees that service of process in any such suit, action or proceeding may be made upon it at the office of such agent. The
Bank waives, to the fullest extent permitted by law, any other requirements of or objections to personal jurisdiction with respect thereto.
The Bank represents and warrants that such agent has agreed to act as the Bank&rsquo;s agent for service of process, and the Bank agrees
to take any and all action, including the filing of any and all documents and instruments, that may be necessary to continue such appointment
in full force and effect.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">22.</TD><TD STYLE="text-align: justify">waiver of right to trial by jury</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">EACH OF THE PARTIES HEREBY EXPRESSLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION
ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF ANY OF THE PARTIES WITH RESPECT
TO THIS AGREEMENT WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH OF THE PARTIES
AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY
OF THE PARTIES MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 22 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE
SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">23.</TD><TD STYLE="text-align: justify">Judgment Currency</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If for the purposes of obtaining judgment
in any court it is necessary to convert a sum due hereunder into any currency other than United States dollars, the parties hereto agree,
to the fullest extent permitted by law, that the rate of exchange used shall be the rate at which in accordance with normal banking procedures
the Representatives could purchase United States dollars with such other currency in The City of New York on the business day preceding
that on which final judgment is given. The obligation of the Bank with respect to any sum due from it to any Underwriter or any person
controlling any Underwriter shall, notwithstanding any judgment in a currency other than United States dollars, not be discharged until
the first business day following receipt by such Underwriter or controlling person of any sum in such other currency, and only to the
extent that such Underwriter or controlling person may in accordance with normal banking procedures purchase United States dollars with
such other currency. If the United States dollars so purchased are less than the sum originally due to such Underwriter or controlling
person hereunder, the Bank agrees as a separate obligation and notwithstanding any such judgment, to indemnify such Underwriter or controlling
person against such loss. If the United States dollars so purchased are greater than the sum originally due to such Underwriter or controlling
person hereunder, such Underwriter or controlling person agrees to pay to the Bank an amount equal to the excess of the dollars so purchased
over the sum originally due to such Underwriter or controlling person hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature pages follow</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Signatories</P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font-weight: bold">CANADIAN IMPERIAL BANK OF COMMERCE</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"> /s/ Wojtek Niebrzydowski &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 32%"> Wojtek Niebrzydowski</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Vice-President Global Term Funding, Treasury</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>Signature Page to Underwriting
Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Accepted as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: normal; font-weight: normal">By:</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">CIBC WORLD MARKETS CORP.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"> /s/ Andrew W. Lee &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 32%"> Andrew W. Lee</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD> Executive Director</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><I>Signature Page to Underwriting Agreement</I></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: normal; font-weight: normal">By:</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"> BOFA SECURITIES, INC.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"> /s/ Randolph B. Randolph &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 32%"> Randolph B. Randolph</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Managing Director</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>



<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><I>Signature Page to Underwriting Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: normal; font-weight: normal">By:</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"> CITIGROUP GLOBAL MARKETS INC.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"> /s/ Adam D. Bordner &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 32%"> Adam D. Bordner</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD> Managing Director</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><I>Signature Page to Underwriting Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: normal; font-weight: normal">By:</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">BNP PARIBAS SECURITIES CORP.</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"> /s/ Lestocq Orman &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 32%"> Lestocq Orman</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>





<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><I>Signature Page to Underwriting Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: normal; font-weight: normal">By:</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"> GOLDMAN SACHS &amp; CO. LLC</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"> /s/ Rishi Mathur &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 32%"> Rishi Mathur</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Managing Director</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><I>Signature Page to Underwriting Agreement</I></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: normal; font-weight: normal">By:</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"> UBS SECURITIES LLC</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"> /s/ Jay Anderson &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 32%"> Jay Anderson</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Managing Director</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"> /s/ Aaditya Niranjan &nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD> Aaditya Niranjan</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD> Director</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><I>Signature Page to Underwriting Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%">Closing Date and Time:</TD>
    <TD STYLE="width: 60%">September 8, 2025; 9:00 a.m. (eastern)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Closing Location:</TD>
    <TD>Allen Overy Shearman Sterling US LLP</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>599 Lexington Avenue</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>New York, NY 10022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Address for Notices to the Underwriters:</TD>
    <TD> CIBC World Markets Corp.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>300 Madison Avenue</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>New York, NY 10017</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: Execution Management</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Telephone: 212-856-3571</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>E-mail: DLCIBCUSEMG@cibc.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>BofA Securities, Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>114 W 47<SUP>th</SUP> St.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>NY8-114-07-01</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>New York, NY 10036</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Facsimile: (212) 901-7881</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: High Grade Debt Capital Markets Transaction</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Management/Legal</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Citigroup Global Markets Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>388 Greenwich Street</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>New York, NY 10013</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: General Counsel</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Facsimile: (646) 291-1469</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>BNP Paribas Securities Corp.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>787 Seventh Avenue</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>New York, NY 10019</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: Syndicate Desk</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>E-mail: DL.US.Syndicate.Support@us.bnpparibas.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Goldman Sachs &amp; Co. LLC</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>200 West Street</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>New York, NY 10282-2198</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: Registration Department</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Email: registration-syndops@ny.email.gs.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>UBS Securities LLC</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>11 Madison Avenue</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>New York, New York 10010</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: Fixed Income Syndicate</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Telephone number: (203) 719-1088</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Email: dl-synd-stamford@ubs.com</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 60%">Allen Overy Shearman Sterling US LLP</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>599 Lexington Avenue</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>New York, NY 10022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Email: ryan.robski@aoshearman.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: Ryan E. Robski</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Address for Notices to the Bank:</TD>
    <TD>Canadian Imperial Bank of Commerce</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>81 Bay Street</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>CIBC Square</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Toronto, ON M5J 0E7</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Facsimile: (416) 980-7012</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: The Corporate Secretary</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>with a copy to</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Blake, Cassels &amp; Graydon LLP</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>199 Bay Street</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Suite 4000, Commerce Court</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Toronto, ON M5L 1A9</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Email: stacy.mclean@blakes.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: Stacy McLean</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>and</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Willkie Farr &amp; Gallagher LLP</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>300 North LaSalle Dr.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Chicago, IL 60654</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Facsimile: (312) 728 9199</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Email: ebest@willkie.com; srabinowitz@willkie.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Attention: Edward S. Best; Susan Rabinowitz</TD></TR>
  </TABLE>


<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid">Underwriter</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Principal Amount of Floating Rate Notes</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Principal<BR>
 Amount of 2028<BR>
 Fixed-to-Floating<BR>
 Rate Notes</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Principal Amount of 2031 Fixed-to-Floating Rate Notes</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; text-align: left">CIBC World Markets Corp.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">US$</TD><TD STYLE="width: 9%; text-align: right">123,498,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">US$</TD><TD STYLE="width: 9%; text-align: right">161,502,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">US$</TD><TD STYLE="width: 9%; text-align: right">190,002,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: transparent">
    <TD STYLE="text-align: left">BofA Securities, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">117,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">153,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">180,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Citigroup Global Markets Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">117,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">153,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">180,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: transparent">
    <TD STYLE="text-align: left">BNP Paribas Securities Corp.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">84,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">110,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">130,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Goldman Sachs &amp; Co. LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">84,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">110,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">130,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: transparent">
    <TD STYLE="text-align: left">UBS Securities LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">84,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">110,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">130,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Loop Capital Markets LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">6,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">8,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: transparent">
    <TD STYLE="text-align: left">Academy Securities, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">5,417,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">7,083,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">8,333,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Barclays Capital Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">5,417,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">7,083,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">8,333,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: transparent">
    <TD STYLE="text-align: left">Deutsche Bank Securities Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">5,417,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">7,083,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">8,333,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Mizuho Securities USA LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">5,417,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">7,083,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">8,333,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: transparent">
    <TD STYLE="text-align: left">MUFG Securities Americas Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">5,417,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">7,083,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right">8,333,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Nomura Securities International, Inc.</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">US$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">5,417,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">US$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">7,083,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">US$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">8,333,000</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: transparent">
    <TD STYLE="font-weight: bold; padding-bottom: 4pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">650,000,000</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">850,000,000</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,000,000,000</TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SCHEDULE 3</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Significant Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; text-align: center"><B>Name of Significant Subsidiary</B></TD>
    <TD STYLE="width: 33%; text-align: center"><B>Jurisdiction of Incorporation<BR>
 of Significant Subsidiary</B></TD>
    <TD STYLE="width: 33%; text-align: center"><B>Percentage of Direct or Indirect <BR>
Ownership of each Significant <BR>
Subsidiary by the Bank</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">CIBC Cayman Holdings Limited</TD>
    <TD STYLE="text-align: center">Cayman Islands</TD>
    <TD STYLE="text-align: center">100% </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">CIBC Bancorp USA Inc.</TD>
    <TD STYLE="text-align: center">State of Delaware</TD>
    <TD STYLE="text-align: center">100%</TD></TR>
  </TABLE>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="text-transform: none"></FONT>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="text-transform: none">SCHEDULE
4</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>(To Prospectus dated October 2, 2024 and </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Preliminary Prospectus Supplement dated </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>September 2, 2025)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>A final base shelf prospectus containing important information relating
to the securities described in this document has been filed with the U.S. Securities and Exchange Commission. A copy of the final base
shelf prospectus, any amendment to the final base shelf prospectus and any applicable shelf prospectus supplement that has been filed,
is required to be delivered with this document where required by applicable law.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>This document does not provide full disclosure of all material facts
relating to the securities offered. Investors should read the final base shelf prospectus, any amendment and any applicable shelf prospectus
supplement for disclosure of those facts, especially risk factors and tax consequences relating to the securities offered, before making
an investment decision. <B>Investing in the Notes involves risks. See the &ldquo;Risk Factors&rdquo; sections of the Prospectus Supplement
and the accompanying Prospectus.</B></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CANADIAN IMPERIAL BANK OF COMMERCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>US$650,000,000 Floating Rate Senior Notes due
2028 (</B>the <B>&ldquo;Floating Rate Notes&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>US$850,000,000 4.243% Fixed-to-Floating Rate
Senior Notes due 2028 (</B>the <B>&ldquo;2028 Fixed-to-Floating Rate Notes&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>US$1,000,000,000 4.580% Fixed-to-Floating Rate
Senior Notes due 2031 (</B>the <B>&ldquo;2031 Fixed-to-Floating Rate Notes&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(together, the &ldquo;<B>Notes</B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Pricing Term Sheet</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>September 2, 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 39%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Issuer:</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; width: 59%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Canadian
    Imperial Bank of Commerce (the &ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal"><B>Bank</B><FONT STYLE="font-weight: normal">&rdquo;)</FONT></FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pricing
    Date:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">September
    2, 2025</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Settlement
    Date**:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">September
    8, 2025 (T+4)</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Joint
    Book-Running Managers:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">CIBC
    World Markets Corp.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">BofA
    Securities, Inc.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Citigroup
    Global Markets Inc.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">BNP
    Paribas Securities Corp.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Goldman
    Sachs &amp; Co.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">LLC
    UBS Securities LLC</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Co-Managers:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Loop
    Capital Markets LLC </FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Academy
    Securities, Inc.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Barclays
    Capital Inc.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Deutsche
    Bank Securities Inc.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Mizuho
    Securities USA LLC</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">MUFG
    Securities Americas Inc.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Nomura
    Securities International, Inc.</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Bail-inable
    Notes:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    Notes are bail-inable notes and subject to conversion in whole or in part&mdash;by means of a transaction or series of transactions
    and in one or more steps&mdash;into common shares of the Bank or any of its affiliates under subsection 39.2(2.3) of the Canada Deposit
    Insurance Corporation Act (the &ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal"><B>CDIC
    Act</B><FONT STYLE="font-weight: normal">&rdquo;) and to variation or extinguishment in consequence, and subject to the application
    of the laws of the Province of Ontario and the federal laws of Canada applicable therein in respect of the operation of the CDIC
    Act with respect to the Notes. For a description of the Canadian bank resolution powers and related risk factors attaching to investment
    in the Notes, see information under the headings &ldquo;</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Description
    of the Notes&mdash;Special Provisions Related to Bail-in Regime</I>&rdquo; <I></I>and <I>&ldquo;Risk Factors</I><FONT STYLE="font-style: normal; font-weight: normal">&rdquo;
    in the prospectus supplement relating to the Notes (the &ldquo;Prospectus Supplement&rdquo;) </FONT></FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Use
    of Proceeds:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    net proceeds from the sale of the Notes will be added to the Bank&rsquo;s funds and will be used for general corporate purposes</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="text-decoration: underline; font: normal bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">US$650,000,000 Floating Rate Senior Notes due 2028</P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify; width: 39%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify; width: 59%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Aggregate
    Principal Amount Offered:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">US$650,000,000</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maturity
    Date:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">September
    8, 2028</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Price
    to the Public:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">100.000%
    of the principal amount plus accrued interest, if any, from September 8, 2025 </FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interest
    Rate:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    interest rate on the Floating Rate Notes for each interest period will be equal to Compounded SOFR plus the applicable margin</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Compounded
    SOFR:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">A
    compounded average of daily Secured Overnight Financing Rate determined by reference to the SOFR Index (as defined in the Prospectus
    Supplement) for each quarterly interest period in accordance with the specific formula described under &ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Description
    of the Notes&mdash;Interest&mdash;Secured Overnight Financing Rate and the SOFR Index</I><FONT STYLE="font-style: normal; font-weight: normal">&rdquo;
    in the Prospectus Supplement</FONT></FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Margin:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">+80
    basis points</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Floating
    Rate Interest Payment Dates:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">March
    8, June 8, September 8 and December 8 of each year beginning on December 8, 2025, and ending on maturity (or, if the Floating Rate
    Notes are redeemed earlier, the redemption date)</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interest
    Period:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    period from, and including, any Floating Rate Interest Payment Date (or, with respect to the initial interest period only, from,
    and including, September 8, 2025) to, but excluding, the next succeeding Floating Rate Interest Payment Date, and in the case of
    the last such period, from, and including, the Floating Rate Interest Payment Date immediately preceding the maturity date to, but
    excluding, the maturity date of the Floating Rate Notes</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Floating
    Rate Interest Payment Determination Dates:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    date two U.S. Government Securities Business Days before each Floating Rate Interest Payment Date </FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>U.S.
    Government Securities Business Day:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Any
    day except for a Saturday, a Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the
    fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government securities</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Calculation
    Agent:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    Bank of New York Mellon</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Optional
    Redemption:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    Bank, at its option, may redeem the Floating Rate Notes (a) in whole, but not in part, on September 8, 2027 (one year prior to the
    maturity date of the Floating Rate Notes), or (b) in whole at any time or in part from time to time, on or after August 8, 2028 (one
    month prior to the maturity date of the Floating Rate Notes), in each case, on at least 5 days&rsquo; but not more than 60 days&rsquo;
    prior notice, at a redemption price equal to 100% of the principal amount of the Floating Rate Notes to be redeemed, plus accrued
    and unpaid interest thereon to, but excluding, the redemption date</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Tax
    Redemption:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    Bank may redeem the Floating Rate Notes at its option in whole but not in part, upon the occurrence of certain events pertaining
    to Canadian taxation. This redemption would be at 100% of the principal amount, together with accrued and unpaid interest on the
    Floating Rate Notes to, but excluding, the redemption date</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CUSIP/ISIN:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">13607Q
    FC1 / US 13607QFC15</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-decoration: underline; font: normal bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">US$850,000,000 4.243% Fixed-to-Floating Rate Senior Notes due 2028</P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify; width: 39%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify; width: 59%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Aggregate
    Principal Amount Offered:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">US$850,000,000</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maturity
    Date:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">September
    8, 2028</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interest
    Reset Date:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">September
    8, 2027</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fixed
    Rate Period:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    period from, and including, September 8, 2025 to, but excluding, the Interest Reset Date</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Floating
    Rate Period:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    period from, and including, the Interest Reset Date to, but excluding, the maturity date</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interest
    Rate:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">(i)
    During the Fixed Rate Period, the 2028 Fixed-to-Floating Rate Notes will bear interest at a rate equal to 4.243% per annum, and (ii)
    during the Floating Rate Period, the 2028 Fixed-to-Floating Rate Notes will bear interest at a rate equal to Compounded SOFR plus
    the margin</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Compounded
    SOFR:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">A
    compounded average of daily SOFR determined by reference to the SOFR Index for each quarterly interest period in accordance with
    the specific formula described under &ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Description
    of the Notes&mdash;Interest&mdash;Secured Overnight Financing Rate and the SOFR Index</I><FONT STYLE="font-style: normal; font-weight: normal">&rdquo;
    in the Prospectus Supplement</FONT></FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Margin:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">+80
    basis points</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interest
    Payment Dates:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">During
    the Fixed Rate Period, March 8 and September 8 of each year, beginning on March 8, 2026, and ending on the Interest Reset Date During
    the Floating Rate Period, on March 8, June 8, September 8 and December 8, beginning on December 8, 2027 and ending on maturity (or,
    if the 2028 Fixed-to-Floating Rate Notes are redeemed earlier, the redemption date)</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interest
    Period:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">With
respect to the Fixed Rate Period, the period from, and including, any Interest Payment Date (or, with respect to the initial interest
period only, from, and including, September 8, 2025) to, but excluding, the next succeeding Interest Payment Date, and in the case of
the final such interest period, the Interest Reset Date (or, if the 2028 Fixed-to-Floating Rate Notes are redeemed earlier, the redemption
date)</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify">With respect to the Floating Rate Period, the period from, and including, any Interest Payment Date (or, with respect
    to the initial interest period only, from, and including, the Interest Reset Date) to, but excluding, the next succeeding Interest
    Payment Date, and in the case of the final such interest period, from, and including, the Interest Payment Date immediately preceding
    the maturity date to, but excluding, such maturity date (or, if the 2028 Fixed-to-Floating Rate Notes are redeemed earlier, the redemption
    date)</TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Floating
    Rate Interest Payment Determination Dates:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Two
    U.S. Government Securities Business Days preceding each Floating Rate Period Interest Payment Date (or, in the case of the final
    interest period, the maturity date or, if we elect to redeem in whole or in part the 2028 Fixed-to-Floating Rate Notes, the redemption
    date)</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Benchmark
    Treasury:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">UST
    3.625% due August 31, 2027</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Benchmark
    Treasury Price/Yield:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">99-30
    &frac78; / 3.643%</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Spread
    to Benchmark Treasury:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">+60
    basis points</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Yield
    to Interest Reset Date:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">4.243%</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Price
    to the Public:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">100.000%
    of the principal amount plus accrued interest, if any, from September 8, 2025</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Day
    Count Convention:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">30/360
    for the Fixed Rate Period and Actual/360 for the Floating Rate Period</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>U.S.
    Government Securities Business Day:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Any
    day except for a Saturday, a Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the
    fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government securities</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Calculation
    Agent:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    Bank of New York Mellon</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: normal 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: normal bold 10pt Times New Roman, Times, Serif; text-align: justify; width: 39%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Optional
    Redemption:</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: justify; width: 59%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">At
    any time after the date that is 180 days after the issue date of the 2028 Fixed-to-Floating Rate Notes (or, if additional notes are
    issued, after the date that is 180 days after the issue date of such additional notes) and prior to the Interest Reset Date (one
    year prior to the maturity date of the 2028 Fixed-to-Floating Rate Notes), the Bank may redeem the 2028 Fixed-to-Floating Rate Notes,
    in whole at any time or in part from time to time, at the Bank&rsquo;s option, on at least 5 days&rsquo; but not more than 60 days&rsquo;
    prior notice, at a redemption price equal to the greater of: </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 39%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 5%"><FONT STYLE="font-size: 10pt">(i) </FONT></TD>
    <TD STYLE="text-align: justify; width: 54%"><FONT STYLE="font-size: 10pt">100% of the principal amount of the 2028 Fixed-to-Floating Rate Notes to be redeemed; and </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(a)&nbsp;the sum of the present values of the remaining scheduled payments of principal and interest on the 2028 Fixed-to-Floating Rate Notes to be redeemed discounted to the redemption date (assuming the 2028 Fixed-to-Floating Rate Notes to be redeemed matured on the Interest Reset Date), on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day&nbsp;months), at the Treasury Rate (as defined in the Prospectus Supplement) plus 10 basis points, less (b)&nbsp;interest accrued to, but excluding, the redemption date;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 39%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 59%"><FONT STYLE="font-size: 10pt">plus, in either case, accrued and unpaid interest on the principal amount of the 2028 Fixed-to-Floating Rate Notes to be redeemed to, but excluding, the redemption date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">In addition, the Bank, at its option, may redeem the 2028 Fixed-to-Floating Rate Notes (a) in whole, but not in part, on the Interest Reset Date, or (b) in whole at any time or in part from time to time, on or after August 8, 2028 (one month prior to the maturity date of the 2028 Fixed-to-Floating Rate Notes), in each case at a redemption price equal to 100% of the principal amount of the 2028 Fixed-to-Floating Rate Notes to be redeemed, plus accrued and unpaid interest thereon to, but excluding, the redemption date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Tax Redemption:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Bank may redeem the 2028 Fixed-to-Floating Rate Notes at its option in whole but not in part, upon the occurrence of certain events pertaining to Canadian taxation. This redemption would be at 100% of the principal amount, together with accrued and unpaid interest on the Fixed Rate Notes to, but excluding, the redemption date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>CUSIP/ISIN:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">13607Q FD9 / US 13607QFD97</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>US$1,000,000,000 4.580% Fixed-to-Floating
Rate Senior Notes due 2031</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 39%"><FONT STYLE="font-size: 10pt"><B>Aggregate Principal Amount Offered:</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 59%"><FONT STYLE="font-size: 10pt">US$1,000,000,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Maturity Date:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">September 8, 2031</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Interest Reset Date:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">September 8, 2030</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Fixed Rate Period:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The period from, and including, September 8, 2025 to, but excluding, the Interest Reset Date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Floating Rate Period:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The period from, and including, the Interest Reset Date to, but excluding, the maturity date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Interest Rate:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(i) During the Fixed Rate Period, the 2031 Fixed-to-Floating Rate Notes will bear interest at a rate equal to 4.580% per annum, and (ii) during the Floating Rate Period, the 2031 Fixed-to-Floating Rate Notes will bear interest at a rate equal to Compounded SOFR plus the margin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Compounded SOFR:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">A compounded average of daily SOFR determined by reference to the SOFR Index for each quarterly interest period in accordance with the specific formula described under &ldquo;<I>Description of the Notes&mdash;Interest&mdash;Secured Overnight Financing Rate and the SOFR Index</I>&rdquo; in the Prospectus Supplement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Margin:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">+117 basis points</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 39%"><FONT STYLE="font-size: 10pt"><B>Interest Payment Dates:</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 59%"><FONT STYLE="font-size: 10pt">During the Fixed Rate Period, March 8 and September 8 of each year, beginning on March 8, 2026, and ending on the Interest Reset Date </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">During the Floating Rate Period, on March 8, June 8, September 8 and December 8, beginning on December 8, 2030 and ending on maturity (or, if the 2031 Fixed-to-Floating Rate Notes are redeemed earlier, the redemption date)</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Interest Period:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">With respect to the Fixed Rate Period, the period from, and including, any Interest Payment Date (or, with respect to the initial interest period only, from, and including, September 8, 2025) to, but excluding, the next succeeding Interest Payment Date, and in the case of the final such interest period, the Interest Reset Date (or, if the 2031 Fixed-to-Floating Rate Notes are redeemed earlier, the redemption date) </FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">With respect to the Floating Rate Period, the period from, and including, any Interest Payment Date (or, with respect to the initial interest period only, from, and including, the Interest Reset Date) to, but excluding, the next succeeding Interest Payment Date, and in the case of the final such interest period, from, and including, the Interest Payment Date immediately preceding the maturity date to, but excluding, such maturity date (or, if the 2031 Fixed-to-Floating Rate Notes are redeemed earlier, the redemption date)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Floating Rate Interest Payment Determination Dates:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Two U.S. Government Securities Business Days preceding each Floating Rate Period Interest Payment Date (or, in the case of the final interest period, the maturity date or, if we elect to redeem in whole or in part the 2031 Fixed-to-Floating Rate Notes, the redemption date)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Benchmark Treasury:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">UST 3.625% due August 31, 2030</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Benchmark Treasury Price/Yield:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">99-16 &frac34; / 3.730%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Spread to Benchmark Treasury:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">+85 basis points</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Yield to Interest Reset Date:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">4.580%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Price to the Public:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">100.000% of the principal amount plus accrued interest, if any, from September 8, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Day Count Convention:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">30/360 for the Fixed Rate Period and Actual/360 for the Floating Rate Period</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>U.S. Government Securities Business Day:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Any day except for a Saturday, a Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government securities</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Calculation Agent:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Bank of New York Mellon</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 39%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 59%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Optional Redemption:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">At any time after the date that is 180 days after the issue date of the 2031 Fixed-to-Floating Rate Notes (or, if additional notes are issued, after the date that is 180 days after the issue date of such additional notes) and prior to the Interest Reset Date (one year prior to the maturity date of the 2031 Fixed-to-Floating Rate Notes), the Bank may redeem the 2031 Fixed-to-Floating Rate Notes, in whole at any time or in part from time to time, at the Bank&rsquo;s option, on at least 5 days&rsquo; but not more than 60 days&rsquo; prior notice, at a redemption price equal to the greater of: </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="text-align: justify; width: 54%"><FONT STYLE="font-size: 10pt">100% of the principal amount of the 2031 Fixed-to-Floating Rate Notes to be redeemed; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(a)&nbsp;the sum of the present values of the remaining scheduled payments of principal and interest on the 2031 Fixed-to-Floating Rate Notes to be redeemed discounted to the redemption date (assuming the 2031 Fixed-to-Floating Rate Notes to be redeemed matured on the Interest Reset Date), on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day&nbsp;months), at the Treasury Rate plus 15 basis points, less (b)&nbsp;interest accrued to, but excluding, the redemption date;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 59%"><FONT STYLE="font-size: 10pt">plus, in either case, accrued and unpaid interest on the principal amount of the 2031 Fixed-to-Floating Rate Notes to be redeemed to, but excluding, the redemption date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">In addition, the Bank, at its option, may redeem the 2031 Fixed-to-Floating Rate Notes (a) in whole, but not in part, on the Interest Reset Date, or (b) in whole at any time or in part from time to time, on or after August 8, 2031 (one month prior to the maturity date of the 2031 Fixed-to-Floating Rate Notes), in each case at a redemption price equal to 100% of the principal amount of the 2031 Fixed-to-Floating Rate Notes to be redeemed, plus accrued and unpaid interest thereon to, but excluding, the redemption date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><B>Tax Redemption:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Bank may redeem the 2031 Fixed-to-Floating Rate Notes at its option in whole but not in part, upon the occurrence of certain events pertaining to Canadian taxation. This redemption would be at 100% of the principal amount, together with accrued and unpaid interest on the Fixed Rate Notes to, but excluding, the redemption date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><B>CUSIP/ISIN:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">13607Q FE7 / US 13607QFE70</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Bank has filed a shelf registration statement on Form F-3 (File
No. 333-282307) (including a base prospectus) and a preliminary prospectus supplement dated September 2, 2025 (including the base prospectus,
the &ldquo;<B>Prospectus</B>&rdquo;) with the U.S. Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;) for the offering
to which this communication relates. Before you invest, you should read the Prospectus and the documents incorporated therein by reference
that the Bank has filed with the SEC for more complete information about the Bank and this offering. You may obtain these documents for
free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Bank or any underwriter participating in the offering will
arrange to send you the Prospectus and any document incorporated therein by reference if you request such documents by calling CIBC World
Markets Corp. toll-free at (800) 282-0822; BNP Paribas Securities Corp. toll-free at (800) 854-5674; BofA Securities, Inc. toll-free at
(800) 294-1322; Citigroup Global Markets Inc. toll-free at (800) 831-9146; Goldman Sachs &amp; Co. LLC toll-free at (866) 471-2526; or
UBS Securities LLC toll-free at (833) 481-0269.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">**We expect that delivery of the Notes will be made against payment
therefor on or about September 8, 2025, which is four business days following the date of pricing of the Notes (this settlement cycle
being referred to as &ldquo;T+4&rdquo;). Under Rule 15c6-1 of the U.S. Securities Exchange Act of 1934, as amended, trades in the secondary
market generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly,
purchasers who wish to trade their Notes on any date prior to the business day before delivery will be required, by virtue of the fact
that the Notes initially will settle in T+4, to specify an alternate settlement cycle at the time of any such trade to prevent a failed
settlement. Purchasers of Notes who wish to trade their Notes on any date prior to one business day before delivery should consult their
own advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any legends, disclaimers or other notices that may appear below are
not applicable to this communication and should be disregarded. Such legends, disclaimer or other notices have been automatically generated
as a result of this communication having been sent via Bloomberg or another email system.</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT A-1</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Form of Opinion
of Blake, Cassels &amp; Graydon LLP</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 39 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT A-2</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Form of Opinion
of Willkie Farr &amp; Gallagher LLP</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

<!-- Field: Page; Sequence: 40; Options: Last -->
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    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
