<SEC-DOCUMENT>0001104659-25-103663.txt : 20251029
<SEC-HEADER>0001104659-25-103663.hdr.sgml : 20251029
<ACCEPTANCE-DATETIME>20251029134243
ACCESSION NUMBER:		0001104659-25-103663
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251029
DATE AS OF CHANGE:		20251029

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:		251429149

	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>tm2527656d44_fwp.htm
<DESCRIPTION>FWP
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Arial, Helvetica, Sans-Serif">

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

<P STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Filed Pursuant to Rule 433</B></FONT></P>

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

<P STYLE="font-family: Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></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: #F2F2F2">
    <TD STYLE="font: 14pt Arial, Helvetica, Sans-Serif; width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; color: #012169"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 14pt; color: #012169">AUTOCALLABLE
    STRATEGIC ACCELERATED REDEMPTION SECURITIES<SUP>&reg;</SUP> (STARS<SUP>&reg;</SUP>)</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 5pt">&nbsp;</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: white 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding: 2pt 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: rgb(1,33,105)">Autocallable
    Strategic Accelerated Redemption Securities</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><SUP>&reg;</SUP>
    <FONT STYLE="color: #012169">Linked to the Russell 2000<SUP>&reg;</SUP> Index</FONT></FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; width: 16%; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Issuer</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; width: 84%; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><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="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Principal
    Amount</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">$10.00
    per unit</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Term</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Approximately
    3 years, if not called on the first two Observation Dates</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Market
    Measure</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">The
    Russell 2000&reg; Index (Bloomberg symbol: &quot;RTY&quot;)</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Automatic
    Call</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Automatic
    call if the Observation Level of the Market Measure on any of the Observation Dates is equal to or greater than the Call Level</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Observation
    Level</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">The
    closing level of the Market Measure on any Observation Date</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Observation
    Dates</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Approximately
    one, two and three years after the pricing date</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Call
    Level</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">100%
    of the Starting Value</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Call
    Amounts (per Unit)</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">[$11.00
    to $11.10] if called on the first Observation Date, [$12.00 to $12.20] if called on the second Observation Date, and [$13.00 to $13.30]
    if called on the final Observation Date, each to be determined on the pricing date</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Payout
    Profile at Maturity</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">If
    not called, 1-to-1 downside exposure to decreases in the Market Measure, with up to 100% of the principal amount at risk</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Threshold
    Value</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">100%
    of the Starting Value</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Investment
    Considerations</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">This
    investment is designed for investors who anticipate that the Observation Level on at least one of the Observation Dates will be equal
    to or greater than the Call Level and, in that case, accept an early exit from the investment, and are willing to accept that their
    return on their investment will be capped at the applicable Call Premium, take full downside risk and forgo interim interest payments.</FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Preliminary
    Offering Documents</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1045520/000110465925103335/tm2527656d43_fwp.htm" STYLE="-sec-extract: exhibit">https://www.sec.gov/Archives/edgar/data/1045520/000110465925103335/tm2527656d43_fwp.htm</A></FONT></TD></TR>
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; background-color: #F2F2F2">
    <TD STYLE="padding: 2pt 5.4pt; font: 7.5pt Arial, Helvetica, Sans-Serif; border-bottom: white 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Exchange
    Listing</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt; font: 7.5pt Arial, Helvetica, Sans-Serif; padding-right: 5pt; border-bottom: white 1pt solid; padding-top: 2pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">No</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B><I>You
should read the relevant Preliminary Offering Documents before you invest. Click on the Preliminary Offering Documents hyperlink above
or call your Financial Advisor for a hard copy.</I></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><B>Risk
Factors</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">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 CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; width: 4%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD>
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 96%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">If the notes
    are not called, you will lose up to 100% of the principal amount.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; width: 4%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD>
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 96%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Your investment
    return is limited to the return represented by the applicable Call Premium.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; width: 4%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: left; width: 96%"><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>
<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; width: 4%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD>
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 96%"><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>
<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; width: 4%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD>
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: left; width: 96%"><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>
<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; width: 4%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD>
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: left; width: 96%"><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>
<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; width: 4%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD>
    <TD STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 96%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">The notes are
    subject to risks associated with small-size capitalization companies.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.55pt; text-indent: -21.55pt">&nbsp;</P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; text-align: left; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt"><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: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-family: Arial, Helvetica, Sans-Serif; margin: 0"><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>

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