<SEC-DOCUMENT>0001104659-25-034708.txt : 20250414
<SEC-HEADER>0001104659-25-034708.hdr.sgml : 20250414
<ACCEPTANCE-DATETIME>20250414163956
ACCESSION NUMBER:		0001104659-25-034708
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250414
DATE AS OF CHANGE:		20250414

SUBJECT COMPANY:	

	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:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-272447
		FILM NUMBER:		25836460

	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

FILED BY:		

	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:		FWP

	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>FWP
<SEQUENCE>1
<FILENAME>tm2510993d29_fwp.htm
<DESCRIPTION>FWP
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Filed Pursuant to Rule 433<BR>
Registration Statement No. 333-272447</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif">
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 14pt; color: #012169; width: 100%">CAPPED LEVERAGED INDEX RETURN
    NOTES<SUP>&reg;</SUP> (CAPPED LIRNs<SUP>&reg;</SUP>)</TD>
    </TR>
</TABLE>

<DIV STYLE="float: left; width: 54%">

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

<P STYLE="margin: 0pt 0pt 0pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: rgb(1,33,105)">Capped LIRNs<SUP>&reg;</SUP>
Linked to the Nasdaq-100 Index<SUP>&reg;</SUP></FONT></P>

<P STYLE="margin: 0pt"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-top: white 1pt solid; width: 20%; border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Issuer</B></FONT></TD>
    <TD STYLE="border-top: white 1pt solid; width: 80%; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Canadian Imperial Bank of Commerce (&ldquo;CIBC&rdquo;)</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Principal Amount</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">$10.00 per unit</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Term</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Approximately two years</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Market Measure</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">The Nasdaq-100 Index&reg; (Bloomberg symbol: &ldquo;NDX&rdquo;)</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Payout Profile at Maturity</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 2pt 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7.1pt; text-indent: -7.1pt"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">2-to-1 upside exposure to increases in the Market Measure, subject to the Capped Value</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7.1pt; text-indent: -7.1pt"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">1-to-1 downside exposure to decreases in the Market Measure beyond a 10% decline, with up to 90% of your principal at risk</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7.1pt; text-indent: -7.1pt"></P></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Participation Rate</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">200% </FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Capped Value</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">[$12.20 to $12.60] per unit, a [22.00% to 26.00%] return over the principal amount, to be determined on the pricing date.</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Threshold Value</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">90% of the Starting Value</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Investment Considerations</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">This investment is designed for investors who anticipate that the Market Measure will increase moderately over the term of the notes,
and are willing to accept a capped return, take downside risk below a threshold and forgo interim interest payments.</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Preliminary Offering Documents</B></FONT></TD>
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1045520/000110465925034630/tm2510993d28_fwp.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">https://www.sec.gov/Archives/edgar/data/1045520/000110465925034630/tm2510993d28_fwp.htm</FONT></A></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Exchange Listing</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">No</FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0pt; font-size: 4pt">&nbsp;</P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><I>You should read the relevant Preliminary Offering Documents before you invest.</I></B></FONT></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><I>Click on the Preliminary Offering Documents hyperlink above or call your Financial Advisor for a hard copy.&nbsp;</I></B></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><U>Risk
Factors</U></B></FONT></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Please see
the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the
following:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Depending on the performance of the Market Measure as measured shortly before the maturity date, you may lose up to 90% of the principal
amount.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Your investment return is limited to the return represented by the Capped Value and may be less than a comparable investment directly
in the stocks included in the Market Measure.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Payments on the notes, including any repayment of principal, are subject to the credit risk of CIBC, and actual or perceived changes in
the creditworthiness of CIBC are expected to affect the value of the notes. If CIBC becomes insolvent or is unable to pay its obligations,
you may lose your entire investment.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">The initial estimated value of the notes on the pricing date will be less than their public offering price.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">If you attempt to sell the notes prior to maturity, their market value may be lower than both the public offering price and the initial
estimated value of the notes on the pricing date.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">As a noteholder, you will have no rights of a holder of the securities represented by the Market Measure, and you will not be entitled
to receive securities, dividends or other distributions by the issuers of those securities.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">The notes are subject to risks associated with investments in securities linked to the value of non-U.S. equity securities.</FONT></TD></TR></TABLE>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>Final terms will be set on the pricing date within the given range for the specified Market-Linked Investment. Please see the Preliminary
Offering Documents for complete product disclosure, including related risks and tax disclosure.</I></FONT></P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="float: right; width: 44%">

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2510993d29_fwpimg01.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>The graph above and the table below reflect the hypothetical return on the notes, based on the terms contained in the table to the left
(using the mid-point for any range(s)). The graph and the table have been prepared for purposes of illustration only and do not take into
account any tax consequences from investing in the notes.</I></FONT></P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I></I>&nbsp;</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: white">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; white-space: nowrap; width: 32%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #012169"><B>Hypothetical
    <BR>
    Percentage Change<BR>
    from the Starting Value<BR>
    to the Ending Value</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; white-space: nowrap; width: 31%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #012169"><B>Hypothetical<BR>
    Redemption Amount<BR>
    per Unit</B></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; white-space: nowrap; width: 37%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #012169"><B>Hypothetical
    Total Rate of<BR>
    Return on the Notes</B></FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-100.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$1.00</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-90.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: white">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-50.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$6.00</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-40.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-20.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$9.00</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-10.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: white">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;-10.00%<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$10.00</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;-5.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$10.00</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: white">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-3.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$10.00</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$10.00</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: white">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$10.40<SUP></SUP></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$11.00</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: white">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center">&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$12.40<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">20.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$12.40</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: white">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">50.00%<SUP></SUP></FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$12.40</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.00%</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$12.40</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.00%</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">(1)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">This hypothetical percentage change corresponds to the Threshold Value.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">(2)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">The Redemption Amount per unit cannot exceed the hypothetical Capped Value.</FONT></TD></TR></TABLE>


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

</DIV>
<DIV STYLE="clear: both; width: 100%">

<P STYLE="margin: 0pt"><FONT STYLE="font-size: 5pt"><B>&nbsp;</B></FONT></P>

</DIV>

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

<P STYLE="margin: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Canadian Imperial Bank of Commerce (CIBC) has filed a registration statement (including a product supplement, a prospectus supplement,
and a prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this document relates. Before you invest,
you should carefully read these documents and other documents that CIBC has filed with the SEC for more complete information about CIBC
and this offering. You may get these documents without cost by visiting EDGAR on the SEC Website at www.sec.gov. CIBC's Central Index
Key, or ClK, on the SEC website is 1045520. Alternatively, MLPF&amp;S or BofAS will arrange to send you these documents if you so request
by calling toll-free at 1-800-294-1322.</B></FONT></P>

<P STYLE="margin: 0pt"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

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

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

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