CM Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce

Market Linked Securities 

Market Linked Securities – Auto-Callable with Leveraged Upside Participation and Contingent Downside

Principal at Risk Securities Linked to the Lowest Performing of the Common Stock of Microsoft Corporation and the Common Stock of NVIDIA Corporation due September 22, 2027

Term Sheet to Preliminary Pricing Supplement dated September 10, 2024

** assumes a Call Premium equal to the lowest possible Call Premium that will be determined on the Pricing Date

If the securities are automatically called, the positive return on the securities will be limited to the Call Premium, and you will not participate in any appreciation of any Underlying Stock, which may be significant. If the securities are automatically called, you will no longer have the opportunity to participate in any appreciation of any Underlying Stock at the Upside Participation Rate.

If the securities are not automatically called prior to maturity and the Ending Price of the Lowest Performing Underlying Stock on the Final Calculation Day is less than its Threshold Price, you will have full downside exposure to the decrease in the price of the Lowest Performing Underlying Stock on the Final Calculation Day from its Starting Price and will lose more than 50%, and possibly all, of the face amount of your securities at maturity.

The Issuer’s estimated value of the securities on the Pricing Date, based on the Issuer’s internal pricing models, is expected to be at least $932.00 per security but less than the original offering price. The estimated value of the securities is not an indication of actual profit to the Issuer or to any of the Issuer’s affiliates, nor is it an indication of the price, if any, at which Wells Fargo Securities, LLC (“Wells Fargo Securities”) or any other person may be willing to buy the securities from you at any time after issuance. See “The Estimated Value of the Securities” in the accompanying preliminary pricing supplement.

Preliminary Pricing Supplement: https://www.sec.gov/Archives/edgar/data/1045520/000110465924098557/tm2423152d2_424b2.htm

Face Amount (Original Offering

Price)

 •  if the Ending Price of the Lowest Performing Underlying Stock on the Final Calculation Day is greater than its Starting Price:

$1,000 + ($1,000 × Stock Return of the Lowest Performing Underlying Stock on the Final Calculation Day × Upside Participation Rate);

•  if the Ending Price of the Lowest Performing Underlying Stock on the Final Calculation Day is less than or equal to its Starting Price, but greater than or equal to its Threshold Price:

$1,000; or

•  if the Ending Price of the Lowest Performing Underlying Stock on the Final Calculation Day is less than its Threshold Price:

$1,000 + ($1,000 × Stock Return of the Lowest Performing Underlying Stock on the Final Calculation Day)

For the Call Observation Date or the Final Calculation Day, the "Stock Return" with respect to an Underlying Stock is the percentage change from its Starting Price to its Stock Closing Price on that day, measured as follows:

Stock Closing Price on that day - Starting Price

Starting Price