Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
2024年8月9日 - 6:22AM
Edgar (US Regulatory)
Filed Pursuant to Rule 433
Registration Statement No. 333-272447
ACCELERATED
RETURN NOTES® (ARNs®) |
|
Accelerated
Return Notes® Linked to a Basket of Three Financial Sector Stocks
Issuer |
Canadian
Imperial Bank of Commerce (“CIBC”) |
Principal
Amount |
$10.00
per unit |
Term |
Approximately
14 months |
Market
Measure |
An
approximately equally weighted basket of three financial sector stocks comprised of the common stock of each of The Goldman Sachs
Group, Inc. (NYSE symbol: “GS”), JPMorgan Chase & Co. (NYSE symbol: “JPM”), and Morgan Stanley
(NYSE symbol: “MS”) (each, a “Basket Stock”). |
Payout
Profile at Maturity |
· 3-to-1
upside exposure to increases in the Market Measure, subject to the Capped Value
· 1-to-1
downside exposure to decreases in the Market Measure, with up to 100% of your investment at risk |
Participation
Rate |
300% |
Capped
Value |
[$11.80
to $12.20] per unit, a [18.00% to 22.00%] return over the principal amount, to be determined on the pricing date. |
Investment
Considerations |
This
investment is designed for investors who anticipate that the Market Measure will increase moderately over the term of the notes,
and are willing to accept a capped return, take full downside risk and forgo interim interest payments. |
Preliminary
Offering Documents |
https://www.sec.gov/Archives/edgar/data/1045520/000110465924087310/tm2420617d12_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. |
| · | Your
investment return is limited to the return represented by the Capped Value and may be less
than a comparable investment directly in the Basket Stocks. |
| · | 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. |
| · | Changes
in the prices of the Basket Stocks may offset each other. |
| · | As
a noteholder, you will have no rights of a holder of any Basket Stock, and you will not be
entitled to receive shares of the Basket Stocks or dividends or other distributions by the
issuers of the Basket Stocks. |
| · | We
do not control any company included in the Basket and have not verified any disclosure made
by any such company. The companies included in the Basket will have no obligations relating
to the notes. |
| · | The
Redemption Amount will not be adjusted for all corporate events that could affect the Basket
Stocks. |
| · | The
Basket is concentrated in the financial sector and an investment in the notes involves certain
risks associated with an investment in companies in the financial 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 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% |
$10.00 |
0.00% |
3.00% |
$10.90 |
9.00% |
5.00% |
$11.50 |
15.00% |
6.67% |
$12.00(1) |
20.00% |
10.00% |
$12.00 |
20.00% |
30.00% |
$12.00 |
20.00% |
50.00% |
$12.00 |
20.00% |
100.00% |
$12.00 |
20.00% |
(1) The Redemption
Amount per unit cannot exceed the hypothetical Capped 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.
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