<SEC-DOCUMENT>0001104659-25-117699.txt : 20251202
<SEC-HEADER>0001104659-25-117699.hdr.sgml : 20251202
<ACCEPTANCE-DATETIME>20251202160222
ACCESSION NUMBER:		0001104659-25-117699
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251202
DATE AS OF CHANGE:		20251202

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:		251543074

	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>tm2530021d67_fwp.htm
<DESCRIPTION>FWP
<TEXT>
<HTML>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Filed Pursuant to Rule 433</B></P>

<P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Registration Statement No. 333-272447</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&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="width: 76%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 14pt; color: #012169">LEVERAGED INDEX RETURN NOTES<SUP>&reg;</SUP> (LIRNs<SUP>&reg;</SUP>)</TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

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

<DIV STYLE="float: left; width: 49%">

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 97%; border-collapse: collapse; margin-left: 0.2in">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: white 1pt solid; padding: 0.55pt 5.4pt; font-size: 10pt; color: rgb(1,33,105)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Leveraged Index Return Notes<SUP>&reg;</SUP> Linked to the Russell 1000<SUP>&reg;</SUP> Value Index</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="width: 15%; border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Issuer</B></FONT></TD>
    <TD STYLE="width: 85%; border-bottom: white 1pt solid; padding: 0.55pt 5.4pt; text-align: justify; font-size: 7.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Canadian Imperial Bank of Commerce (&ldquo;CIBC&rdquo;)</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Principal Amount</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 7.5pt">$10.00 per unit</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Term</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 7.5pt">Approximately 5 years</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Market Measure</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 7.5pt">The Russell 1000 Value&reg; Index (Bloomberg symbol: &ldquo;RLV&rdquo;)</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Payout Profile at Maturity</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding: 0.55pt 5.4pt">
    <P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">[111.00% to 131.00%] leveraged upside exposure to increases in the Market
    Measure</FONT></P>
    <P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;
    </FONT>1-to-1 downside exposure
    to decreases in the Market Measure, with up to 100.00% of the principal amount at risk</P></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Participation Rate</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 7.5pt">[111.00% to 131.00%], to be determined on the pricing date.</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Threshold Value</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 7.5pt">100% of the Starting Value </FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Investment Considerations</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 7.5pt">This investment is designed for investors who anticipate that the Market Measure will increase over the term of the notes, and are willing to take full downside risk and forgo interim interest payments.</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Preliminary Offering Documents</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1045520/000110465925117659/tm2530021d66_fwp.htm" STYLE="-sec-extract: exhibit">https://www.sec.gov/Archives/edgar/data/1045520/000110465925117659/tm2530021d66_fwp.htm</A></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7.5pt"><B>Exchange Listing</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; padding-top: 0.55pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 7.5pt">No</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 5pt 0 0pt 0.25in"><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></P>

<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 0pt 0.25in"><B><U>Risk Factors</U></B></P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in">Please see the Preliminary Offering Documents for a description of
certain risks related to this investment, including, but not limited to, the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 21.55pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Depending on the performance of the Market Measure as measured shortly before the maturity date, you may lose up to 100% of the principal
amount.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 21.55pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>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.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 21.55pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The initial estimated value of the notes on the pricing date will be less than their public offering price.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 21.55pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>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.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 21.55pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>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.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 21.55pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The investment strategy represented by the Market Measure may not be successful.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 21.55pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>An investment in the notes is subject to risks associated with mid-capitalization stocks.</TD></TR></TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in"></P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in"><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></P>

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

</DIV>

<DIV STYLE="float: right; width: 49%">

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

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

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

<P STYLE="text-align: center; font: 7.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><I><IMG SRC="tm2530021d67_fwpimg001.jpg" ALT="">&nbsp;</I></P>

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

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

<P STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><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)).&nbsp;&nbsp;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: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I></I></P>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: white">
    <TD STYLE="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="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<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="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="background-color: #F2F2F2">
    <TD STYLE="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="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$0.000</FONT></TD>
    <TD STYLE="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></TR>
  <TR>
    <TD STYLE="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="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$5.000</FONT></TD>
    <TD STYLE="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></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="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="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$8.000</FONT></TD>
    <TD STYLE="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></TR>
  <TR>
    <TD STYLE="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="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$9.000</FONT></TD>
    <TD STYLE="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="background-color: #F2F2F2">
    <TD STYLE="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="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$9.500</FONT></TD>
    <TD STYLE="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></TR>
  <TR>
    <TD STYLE="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="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$9.700</FONT></TD>
    <TD STYLE="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></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="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;0.00%<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="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="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>
    <TD STYLE="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="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">$10.121</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.21%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="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="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">$10.242</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.42%</FONT></TD></TR>
  <TR>
    <TD STYLE="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="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">$10.605</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.05%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="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="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">$11.210</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">12.10%</FONT></TD></TR>
  <TR>
    <TD STYLE="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="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">$12.420</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.20%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="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="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">$16.050</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">60.50%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I></I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 6pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 0.25in; width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 6pt">(1)</FONT></TD><TD>The Redemption Amount per unit is based on the <B>hypothetical</B> Participation Rate of 121.00%.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 6pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-indent: 0.25in; width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 6pt">(2)</FONT></TD><TD>This hypothetical percentage change corresponds to the Threshold Value.</TD></TR></TABLE>

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

</DIV>

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

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

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

</DIV>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><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></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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