Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
March 04 2024 - 12:27PM
Edgar (US Regulatory)
Filed Pursuant to Rule 433
Registration Statement No. 333-272447
AUTOCALLABLE STRATEGIC ACCELERATED
REDEMPTION SECURITIES® (STARS®) |
Autocallable
Strategic Accelerated Redemption Securities®
Linked to the Russell 2000®
Index |
Issuer |
Canadian Imperial Bank of Commerce (“CIBC”) |
Principal Amount |
$10.00 per unit |
Term |
Approximately
3 years, if not called on the first two Observation Dates |
Market Measure |
The
Russell 2000® Index (Bloomberg symbol: "RTY") |
Automatic Call |
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 |
Observation Level |
The closing level of the Market Measure on any Observation Date |
Observation Dates |
Approximately
one, two and three years after the pricing date |
Call Level |
100% of the Starting Value |
Call Amounts (per Unit) |
[$11.025
to $11.125] if called on the first Observation Date, [$12.050 to $12.250] if called on the second Observation Date, and [$13.075 to $13.375]
if called on the final Observation Date, each to be determined on the pricing date |
Payout Profile at Maturity |
If not called, 1-to-1 downside exposure to decreases in the Market Measure, with up to 100% of the principal amount at risk |
Threshold Value |
100%
of the Starting Value |
Investment Considerations |
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. |
Preliminary Offering Documents |
http://www.sec.gov/Archives/edgar/data/1045520/000110465924030332/tm244771d52_fwp.htm |
Exchange Listing |
No |
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.
Risk Factors
Please see the Preliminary Offering Documents for a description of
certain risks related to this investment, including, but not limited to, the following:
| · | If
the notes are not called, you will lose
up to 100% of the principal amount. |
| · | Your
investment return is limited to the return represented by the applicable Call Premium. |
| · | 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. |
| · | The
initial estimated value of the notes on the pricing date will be less than their public offering price. |
| · | 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. |
| · | 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. |
| · | The
notes are subject to risks associated with small-size capitalization companies. |
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.
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.
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