Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
November 24 2015 - 4:40PM
Edgar (US Regulatory)
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Filed Pursuant to Rule 433
Registration No. 333-202584 |
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MARKET-LINKED STEP UP
NOTES |
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Market-Linked Step Up Notes Linked to the Dow Jones
Industrial AverageSM |
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This graph reflects the hypothetical return on the notes,
based on the mid-point of the range(s) set forth in the table to the left. This graph has been prepared for purposes of illustration only. |
Issuer |
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Canadian Imperial Bank
of Commerce (CIBC) |
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Principal Amount |
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$10.00 per
unit |
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Term |
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Approximately five
years |
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Market Measure |
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Dow Jones Industrial
AverageSM (Bloomberg symbol: INDU) |
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Payout Profile at Maturity |
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● If the Market Measure is flat or increases up to the Step Up Value, a return equal to the
Step Up Payment |
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● If the Market Measure increases
above the Step Up Value, a return equal to the percentage increase in the Market Measure |
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● 1-to-1 downside exposure to
decreases in the Market Measure beyond a 15% decline, with up to 85% of your principal at risk |
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Step Up Value |
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[130% to 136%] of the
Starting Value, to be determined on the pricing date |
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Step Up Payment |
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[$3.00 to $3.60] per
unit, a [30% to 36%] return over the principal amount, to be determined on the pricing date |
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Threshold Value |
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85% of the Starting
Value |
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Investment Considerations |
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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 downside risk below a threshold and forgo interim interest payments. |
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Preliminary Offering Documents |
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http://www.sec.gov/Archives/edgar/data/1045520/000119312515386961/d12712dfwp.htm
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Exchange Listing |
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No |
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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. |
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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:
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Depending on the performance of the Market Measure as measured shortly before the maturity date, your investment may result in a loss; there is no guaranteed
return of principal. |
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Payments on the notes, including 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. |
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The initial estimated value of the notes on the pricing date will be less than their public offering price. |
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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. |
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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 or dividends or other
distributions by the issuers of those securities. |
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 (which includes a
prospectus) with the U.S. Securities and Exchange Commission (SEC) for the notes that are described in this Guidebook. Before you invest, you should carefully read the prospectus in that registration statement and other documents that CIBC has filed
with the SEC for more complete information about CIBC and any offering described in this Guidebook. You may obtain these documents without cost by visiting EDGAR on the SEC Website at www.sec.gov. CIBCs Central Index Key, or ClK, on the SEC
website is 1045520. Alternatively, Merrill Lynch will arrange to send you the prospectus and other documents relating to any offering described in this document if you so request by calling toll-free 1-866-294-1322. CIBC faces risks that are specific to its business, and we encourage you to carefully consider these risks before making an investment in its
securities.
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