Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
2024年7月30日 - 12:31AM
Edgar (US Regulatory)
Filed Pursuant to Rule 433
Registration Statement No. 333-272447
AUTOCALLABLE
STRATEGIC ACCELERATED REDEMPTION SECURITIES® (STARS®) |
Autocallable
Strategic Accelerated Redemption Securities® Linked
to the EURO STOXX 50® Index
Issuer |
Canadian Imperial Bank of Commerce (“CIBC”) |
Principal Amount |
$10.00 per unit |
Term |
Approximately 3 years, if not called on the first two Observation Dates |
Market Measure |
The
EURO STOXX 50® Index (Bloomberg symbol: "SX5E") |
Automatic Call |
Automatic call if the Observation Level of the Market Measure on any of the Observation Dates is equal to or greater than the Call Level |
Observation Level |
The closing level of the Market Measure on any Observation Date |
Observation Dates |
Approximately one, two and three years after the pricing date |
Call Level |
100% of the Starting Value |
Call Amounts (per Unit) |
[$10.925 to $11.025] if called on the first Observation Date, [$11.850 to $12.050] if called on the second Observation Date, and [$12.775 to $13.075] if called on the final Observation Date, each to be determined on the pricing date |
Payout Profile at Maturity |
If not called, 1-to-1 downside exposure to decreases in the Market Measure, with up to 100% of the principal amount at risk |
Threshold Value |
100% of the Starting Value |
Investment Considerations |
This investment is designed for investors who anticipate that the Observation Level on at least one of the Observation Dates will be equal to or greater than the Call Level and, in that case, accept an early exit from the investment, and are willing to accept that their return on their investment will be capped at the applicable Call Premium, take full downside risk and forgo interim interest payments. |
Preliminary Offering Documents |
https://www.sec.gov/Archives/edgar/data/1045520/000110465924083376/tm2418636d28_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:
| · | If
the notes are not called, you will lose up to 100% of the principal amount. |
| · | Your
investment return is limited to the return represented by the applicable Call Premium. |
| · | 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. |
| · | As
a noteholder, 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, 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 changes within the Eurozone. The Eurozone is and has been undergoing severe
financial stress and the political, legal, and regulatory ramifications are impossible to
predict. Changes within the Eurozone could adversely affect the performance of the Market
Measure and, consequently, the value of the notes. In addition, you will not obtain the benefit
of any increase in the value of the euro against the U.S. dollar, which you would have received
if you had owned the securities in the Market Measure during the term of your notes, although
the level 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.
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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