# EDGAR Filing Document

**Accession Number:** 0001045520
**File Stem:** 0001918704-26-012795
**Filing Date:** 2026-5
**Character Count:** 25118
**Document Hash:** 4a4821958496d4023af8bc29bdf6b167
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001918704-26-012795.hdr.sgml**: 20260512

**ACCESSION NUMBER**: 0001918704-26-012795

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260512

**DATE AS OF CHANGE**: 20260512

**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:** 26967982

**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

**Filed Pursuant to Rule 433**

**Registration Statement No. 333-272447**

CAPPED MARKET INDEX TARGET-TERM SECURITIES<sup>®</sup> (MITTS<sup>®</sup>)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; Capped Market Index Target-Term Securities<sup>®</sup> Linked to the Vanguard® Information Technology ETF | &nbsp;&nbsp; Capped Market Index Target-Term Securities<sup>®</sup> Linked to the Vanguard® Information Technology ETF | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Issuer** | &nbsp;&nbsp; Canadian Imperial Bank of Commerce ("CIBC") | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Principal Amount** | &nbsp;&nbsp; $10.00 per unit | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Term** | &nbsp;&nbsp; Approximately 5 years | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Market Measure** | &nbsp;&nbsp; The Vanguard® Information Technology ETF (Bloomberg symbol: "VGT") | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Payout Profile at Maturity** | &nbsp;&nbsp; ●100% participation in increases in the Market Measure, subject to the Capped Value<br> ●1-to-1 downside exposure to decreases in the Market Measure, subject to the Minimum Redemption Amount | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Participation Rate** | &nbsp;&nbsp; 100.00% | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Minimum Redemption Amount** | &nbsp;&nbsp; $9.00 per unit | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Capped Value** | &nbsp;&nbsp; [$14.40 to $15.40] per unit, a [44.00% to 54.00%] return over the principal amount, to be determined on the pricing date. | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Investment Considerations** | &nbsp;&nbsp; This investment is designed for investors who anticipate that the Market Measure will increase moderately over the term of the notes, are seeking substantially all principal amount at maturity, and are willing to accept a capped return, take certain downside risk and forgo interim interest payments.. | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Preliminary Offering Documents** | &nbsp;&nbsp; [**https://www.sec.gov/Archives/edgar/data/1045520/000191870426012789/formfwp.htm**](https://www.sec.gov/Archives/edgar/data/1045520/000191870426012789/formfwp.htm) | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; **Exchange Listing** | &nbsp;&nbsp; No | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |
| &nbsp;&nbsp; ***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.*** <br> **Risk Factors**<br> **Please see the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the following:** <br> ●Depending on the performance of the Market Measure as measured shortly before the maturity date, you may lose up to 10% of the principal amount.<br> ●Your investment return is limited to the return represented by the Capped Value and may be less than a comparable investment directly in the Market Measure or the securities held by the Market Measure.<br> ●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.<br> ●The initial estimated value of the notes on the pricing date will be less than their public offering price.<br> ●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.<br> ●As a noteholder, you will have no rights to receive shares of the Market Measure or the securities held by the Market Measure, and you will not be entitled to receive securities or dividends or other distributions by the issuers of those securities.<br> ●The securities held by the Market Measure are concentrated in one sector, and adverse conditions in the information technology sector may reduce your return on the notes.<br> ●The notes are subject to risks associated with small-size capitalization companies.<br> ***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.*** | &nbsp;&nbsp; ***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.*** <br> **Risk Factors**<br> **Please see the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the following:** <br> ●Depending on the performance of the Market Measure as measured shortly before the maturity date, you may lose up to 10% of the principal amount.<br> ●Your investment return is limited to the return represented by the Capped Value and may be less than a comparable investment directly in the Market Measure or the securities held by the Market Measure.<br> ●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.<br> ●The initial estimated value of the notes on the pricing date will be less than their public offering price.<br> ●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.<br> ●As a noteholder, you will have no rights to receive shares of the Market Measure or the securities held by the Market Measure, and you will not be entitled to receive securities or dividends or other distributions by the issuers of those securities.<br> ●The securities held by the Market Measure are concentrated in one sector, and adverse conditions in the information technology sector may reduce your return on the notes.<br> ●The notes are subject to risks associated with small-size capitalization companies.<br> ***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.*** | &nbsp;&nbsp; <br>![](image_001.jpg)<br>***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.***<br> \| Hypothetical Percentage Change from the Starting Value to the Ending Value \| Hypothetical Redemption Amount per Unit \| Hypothetical Total Rate of Return on the Notes \|<br> \|:---\|:---\|:---\|<br> \| -100.00% \| $9.00<sup>(1)</sup> \| -10.00% \|<br> \| -50.00% \| $9.00 \| -10.00% \|<br> \| -20.00% \| $9.00 \| -10.00% \|<br> \| -10.00% \| $9.00 \| -10.00% \|<br> \| -6.00% \| $9.40 \| -6.00% \|<br> \| -3.00% \| $9.70 \| -3.00% \|<br> \| 0.00% \| $10.00 \| 0.00% \|<br> \| 5.00% \| $10.50 \| 5.00% \|<br> \| 10.00% \| $11.00 \| 10.00% \|<br> \| 15.00% \| $11.50 \| 15.00% \|<br> \| 20.00% \| $12.00 \| 20.00% \|<br> \| 49.00% \| $14.90<sup>(2)</sup> \| 49.00% \|<br> \| 50.00% \| $14.90 \| 49.00% \|<br> \| 80.00% \| $14.90 \| 49.00% \| |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)The Redemption Amount per unit cannot be less than the Minimum Redemption Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The Redemption Amount per unit cannot exceed the **hypothetical** Capped Value of $14.90 per unit.

**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&S or BofAS will arrange to send you these documents if you so request by calling toll-free at 1-800-294-1322.**