Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
March 02 2023 - 7:55AM
Edgar (US Regulatory)
CAPPED
MARKET INDEX TARGET-TERM SECURITIES® (MITTS®) |
|
Capped Market Index Target-Term Securities® Linked to the Bloomberg Commodity IndexSM |
Issuer |
Canadian Imperial Bank of Commerce (“CIBC”) |
Principal Amount |
$10.00 per unit |
Term |
Approximately three years |
Market Measure |
The Bloomberg Commodity IndexSM (Bloomberg symbol: “BCOM”) |
Payout Profile at Maturity |
· 100% participation in increases in the Market Measure,
subject to the Capped Value
· If the Market Measure is flat or decreases, the payment
at maturity will be the Minimum Redemption Amount |
Capped Value |
$[14.50
to 16.50] per unit, a [45.00% to 65.00] return over the principal amount, to be determined on the pricing date. |
Participation Rate |
100.00% |
Minimum Redemption Amount |
$10.00 per unit |
Investment Considerations |
This investment is designed for investors who anticipate that the Market Measure will increase moderately over the term of the notes, are seeking full principal amount at maturity, and are willing to accept a capped return and forgo interim interest payments. |
Preliminary Offering Documents |
https://www.sec.gov/Archives/edgar/data/1045520/000110465923027468/tm235122d109_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 is limited to the return represented
by the Capped Value and may be less than a comparable investment directly in the Market Measure or any related futures contract. |
| · | 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. |
| · | Ownership of the notes will not entitle you to any rights
with respect to any commodities or futures contracts represented by or included in the Market Measure. |
| · | The prices of commodities or futures contracts represented
by or included in the Market Measure may change unpredictably, affecting the value of your notes in unforeseeable ways. |
| · | The notes will not be regulated by the U.S. Commodity Futures
Trading Commission. |
| · | The Market Measure includes futures contracts traded on
foreign exchanges, which may be less regulated than U.S. markets and may involve different and greater risks than trading on U.S. exchanges. |
| · | The Market Measure tracks commodity futures contracts and
does not track the spot prices of the Index Commodities |
| · | Higher future prices of the components of the Market Measure
relative to their current prices may have a negative effect on the level of the Market Measure, and therefore the value of the notes. |
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 |
Hypothetical Total Rate of
Return on the Notes |
-100.00% |
$10.00(1) |
0.00% |
-50.00% |
$10.00 |
0.00% |
-25.00% |
$10.00 |
0.00% |
-20.00% |
$10.00 |
0.00% |
-10.00% |
$10.00 |
0.00% |
-5.00% |
$10.00 |
0.00% |
0.00% |
$10.00 |
0.00% |
10.00% |
$11.00 |
10.00% |
30.00% |
$13.00 |
30.00% |
50.00% |
$15.00 |
50.00% |
55.00% |
$15.50(2) |
55.00% |
60.00% |
$15.50 |
55.00% |
80.00% |
$15.50 |
55.00% |
(1) The
Redemption Amount per unit cannot be less than the Minimum Redemption Amount.
(2) The
Redemption Amount per unit cannot exceed the hypothetical Capped Value.
Canadian Imperial Bank (PK) (USOTC:CNDIF)
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