Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
02 Dicembre 2024 - 7:42PM
Edgar (US Regulatory)
Filed Pursuant to
Rule 433
Registration Statement
No. 333-272447
| MARKET
INDEX TARGET-TERM SECURITIES® (MITTS®) |
|
Market
Index Target-Term Securities® Linked to an International Equity Index Basket
| Issuer |
Canadian Imperial Bank of Commerce (“CIBC”) |
| Principal Amount |
$10.00 per unit |
| Term |
Approximately 4 years |
| Market Measure |
An international equity index basket comprised of the EURO STOXX 50® Index (Bloomberg symbol: “SX5E”), the FTSE® 100 Index (Bloomberg symbol: “UKX”), the Nikkei Stock Average Index (Bloomberg symbol: “NKY”), the Swiss Market Index® (Bloomberg symbol: “SMI”), the S&P®/ASX 200 Index (Bloomberg symbol: “AS51”), and the FTSE® China 50 Index (Bloomberg symbol: “XIN0I”) (each, a “Basket Component”). The EURO STOXX 50® Index will be given an initial weight of 40.00%, each of the FTSE® 100 Index and the Nikkei Stock Average Index will be given an initial weight of 20.00%, each of the Swiss Market Index® and the S&P®/ASX 200 Index will be given an initial weight of 7.50%, and the FTSE® China 50 Index will be given an initial weight of 5.00%. |
| Payout Profile at Maturity |
·
[101.00% to 111.00%] leveraged upside exposure to increases in the Market
Measure
·
If the Market Measure is flat or decreases, the payment at maturity will
be the Minimum Redemption Amount |
| Participation Rate |
[101.00% to 111.00%], to be determined on the pricing date. |
| Minimum Redemption Amount |
$10.00 per unit |
| Investment Considerations |
This investment is designed for investors who anticipate that the Market Measure will increase over the term of the notes, are seeking full principal amount at maturity, and are willing to forgo interim interest payments. |
| Preliminary
Offering Documents |
https://www.sec.gov/Archives/edgar/data/1045520/000110465924124426/tm2427280d57_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:
| · | Depending on the performance of the Market Measure as measured shortly before the maturity date, you may not receive a positive return
on your investment. |
| · | Your investment return may be less than a comparable investment directly in the stocks included in the Market Measure. |
| · | Changes in the level of one of the Basket Components may be offset by changes in the levels of the other Basket Components. |
| · | 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. |
| · | You will have no rights of a holder of the securities represented by the Basket Components, and you will not be entitled to receive
securities or dividends or other distributions by the issuers of those securities. |
| · | Your return on the notes may be affected by factors affecting the international securities markets, specifically markets in the countries
represented by the Basket Components. In addition, you will not obtain the benefit of any increase in the value of the currencies in which
the securities included in the Basket Components trade against the U.S. dollar, which you would have received if you had owned the securities
included in the Basket Components during the term of your notes, although the value of the Market Measure may be adversely affected by
general exchange rate movements in the market. |
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.
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.
Hypothetical
Percentage Change
from the Starting Value
to the Ending Value |
Hypothetical
Redemption Amount
per Unit(1) |
Hypothetical Total Rate of
Return on the Notes |
| -100.00% |
$10.000(2) |
0.00% |
| -50.00% |
$10.000 |
0.00% |
| -20.00% |
$10.000 |
0.00% |
| -10.00% |
$10.000 |
0.00% |
| -6.00% |
$10.000 |
0.00% |
| -3.00% |
$10.000 |
0.00% |
| 0.00% |
$10.000 |
0.00% |
| 5.00% |
$10.530 |
5.30% |
| 10.00% |
$11.060 |
10.60% |
| 15.00% |
$11.590 |
15.90% |
| 50.00% |
$15.300 |
53.00% |
| 60.00% |
$16.360 |
63.60% |
| 70.00% |
$17.420 |
74.20% |
| 80.00% |
$18.480 |
84.80% |
| (1) | The Redemption Amount per unit is based on the hypothetical Participation Rate of 106.00%. |
| (2) | The Redemption Amount per unit cannot be less than the Minimum Redemption Amount. |
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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