Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
June 30 2023 - 8:52AM
Edgar (US Regulatory)
Filed Pursuant to Rule 433
Registration Statement No. 333-257113
| MARKET-LINKED
STEP UP NOTES |
Market-Linked Step Up Notes Linked to the SPDR®
S&P® Regional Banking ETF
| Issuer |
Canadian
Imperial Bank of Commerce (“CIBC”) |
| Principal
Amount |
$10.00
per unit |
| Term |
Approximately
two years |
| Market
Measure |
The
SPDR® S&P® Regional Banking ETF (Bloomberg symbol: "KRE") |
| Payout
Profile at Maturity |
·
If the Market Measure is flat or increases up to the Step Up Value, a return equal to the Step Up Payment
·
If the Market Measure increases above the Step Up Value, a return equal to the percentage increase in the Market Measure
·
1-to-1 downside exposure to decreases in the Market Measure, with up to 100% of the principal amount at risk |
| Step
Up Value |
[120.00%
to 130.00%] of the Starting Value, to be determined on the pricing date |
| Step
Up Payment |
[$2.00
to $3.00] per unit, a [20.00% to 30.00%] return over the principal amount, to be determined on the pricing date |
| Threshold
Value |
100%
of the Starting Value |
| Investment
Considerations |
This
investment is designed for investors who anticipate that the Market Measure will not decrease over the term of the notes, and are
willing to take full downside risk and forgo interim interest payments. |
| Preliminary
Offering Documents |
sec.gov/Archives/edgar/data/1045520/000110465923076381/tm2317535d132_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 lose up to 100% of the principal amount. |
| · | 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 Market Measure or the securities held by the Market
Measure, and you will not be entitled to receive securities or dividends or other distributions
by the issuers of those securities. |
| · | The
securities held by the Market Measure are concentrated in one sector. |
| | · | The
notes will be subject to risks associate with the regional banking sector. |
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% |
$0.00 |
-100.00% |
| -50.00% |
$5.00 |
-50.00% |
| -20.00% |
$8.00 |
-20.00% |
| -10.00% |
$9.00 |
-10.00% |
| -6.00% |
$9.40 |
-6.00% |
| -3.00% |
$9.70 |
-3.00% |
| 0.00%(1) |
$12.50(2) |
25.00% |
| 10.00% |
$12.50 |
25.00% |
| 20.00% |
$12.50 |
25.00% |
| 25.00%(3) |
$12.50 |
25.00% |
| 40.00% |
$14.00 |
40.00% |
| 60.00% |
$16.00 |
60.00% |
| 100.00% |
$20.00 |
100.00% |
| (1) | This
hypothetical percentage change corresponds to the Threshold Value. |
| (2) | This
amount represents the sum of the principal amount and the hypothetical Step Up Payment of $2.50. |
| (3) | This
hypothetical percentage change corresponds to the hypothetical Step Up Value. |
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.
Canadian Imperial Bank (PK) (USOTC:CNDIF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Canadian Imperial Bank (PK) (USOTC:CNDIF)
Historical Stock Chart
From Apr 2023 to Apr 2024
