Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
14 Novembro 2024 - 2:01PM
Edgar (US Regulatory)
 |
Filed Pursuant to Rule 433
Registration No. 333-272447
Free Writing Prospectus dated November
14, 2024 to Preliminary Pricing Supplement dated November 14, 2024
|
Trigger PLUS Based on the Value of the EURO STOXX 50®
Index due December 4, 2030
Trigger Performance Leveraged Upside SecuritiesSM
Principal at Risk Securities
This document provides a summary of the terms of the Trigger
PLUS. Investors must carefully review the accompanying preliminary pricing supplement referenced below, underlying supplement and prospectus,
and the “Risk Considerations” on the following page, prior to making an investment decision.
| SUMMARY TERMS |
| Issuer: |
Canadian Imperial Bank of Commerce |
| Underlying Index: |
The EURO STOXX 50® Index (Bloomberg symbol: SX5E) |
| Stated Principal Amount: |
$1,000.00 per Trigger PLUS |
| Issue Price: |
$1,000.00 per Trigger PLUS |
| Pricing Date: |
November 29, 2024 |
| Original Issue Date: |
December 4, 2024 (3 Business Days after the Pricing Date) |
| Valuation Date: |
November 29, 2030, subject to postponement for non-Trading Days and certain Market Disruption Events |
| Maturity Date: |
December 4, 2030 |
| Payment at Maturity per Trigger PLUS: |
If the Final Index Value is greater than the Initial
Index Value:
$1,000.00 + Leveraged Upside
Payment
If the Final Index Value is less than or equal to
the Initial Index Value but is greater than or equal to the Trigger Level:
$1,000
If the Final Index Value is less than the Trigger
Level:
$1,000 × Index Performance
Factor
Under these circumstances, the Payment at Maturity
will be less than the Stated Principal Amount of $1,000 and will represent a loss of more than 35%, and possibly all, of your investment.
|
| Leveraged Upside Payment: |
$1,000.00 × Leverage Factor × Index Percent Increase |
| Leverage Factor: |
227.25% |
| Trigger Level: |
65% of the Initial Index Value |
| Index Percent Increase: |
(Final Index Value – Initial Index Value) / Initial Index Value |
| Index Performance Factor: |
Final Index Value / Initial Index Value |
| Initial Index Value: |
The Closing Level of the Underlying Index on the Pricing Date |
| Final Index Value: |
The Closing Level of the Underlying Index on the Valuation Date |
| CUSIP/ISIN: |
13607XUC9 / US13607XUC90 |
| Initial Estimated Value: |
Between $898.70 and $918.70 per Trigger PLUS, which is expected to be less than the price to public |
| Preliminary Terms: |
https://www.sec.gov/Archives/edgar/data/1045520/000110465924118458/tm2427280d27_424b2.htm |
Hypothetical Payout at Maturity
Percentage Change in Underlying
Index |
Return on Trigger
PLUS |
| 50.00% |
113.625% |
| 40.00% |
90.900% |
| 30.00% |
68.175% |
| 20.00% |
45.450% |
| 10.00% |
22.725% |
| 0.00% |
0.000% |
| -5.00% |
0.000% |
| -10.00% |
0.000% |
| -15.00% |
0.000% |
| -30.00% |
0.000% |
| -35.00% |
0.000% |
| -40.00% |
-40.000% |
| -50.00% |
-50.000% |
| -60.00% |
-60.000% |
| -80.00% |
-80.000% |
| -100.00% |
-100.000% |
We have filed a
registration statement (including an underlying supplement, a prospectus supplement and a prospectus) with the SEC for the offering to
which this document relates. Before you invest, you should read these documents and other documents that we have filed with the SEC for
more complete information about us and this offering. You may get these documents without cost by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, we, any agent or any dealer participating in this offering will arrange to send you these documents if you
so request by calling toll-free at 1-833-931-0275.
Underlying Index
For more information about the Underlying Index,
including historical performance information, see the accompanying preliminary pricing supplement.
Risk Considerations
The risks set forth below are discussed
in more detail in the “Risk Factors” section in the accompanying preliminary pricing supplement. Please review those risk
factors carefully prior to making an investment decision.
Risks Relating to the Structure of the Trigger
PLUS
| · | The Trigger PLUS do not pay interest
or guarantee return of any principal. |
| · | The amount payable on the Trigger
PLUS is not linked to the Closing Level of the Underlying Index at any time other than the Valuation Date. |
| · | The Trigger PLUS are riskier than
securities with a shorter term. |
Risks Relating
to the Underlying Index
| · | An Investment in the Trigger PLUS
is subject to risks associated with foreign securities markets. |
| · | Governmental regulatory actions,
such as sanctions, could adversely affect your investment in the Trigger PLUS. |
| · | Adjustments to the Underlying
Index could adversely affect the value of the Trigger PLUS. |
Conflicts of Interest
| · | Certain business, trading and
hedging activities of us and our affiliates may create conflicts with your interests and could potentially adversely affect the value
of the Trigger PLUS. |
| · | There are potential conflicts
of interest between you and the calculation agent. |
General Risks
| · | Payments on the Trigger PLUS are
subject to our credit risk, and actual or perceived changes in our creditworthiness are expected to affect the value of the Trigger PLUS. |
| · | The Bank’s initial estimated
value of the Trigger PLUS will be lower than the initial issue price (price to public) of the Trigger PLUS. |
| · | The Bank’s initial estimated
value does not represent future values of the Trigger PLUS and may differ from others’ estimates. |
| · | The Bank’s initial estimated
value of the Trigger PLUS will not be determined by reference to credit spreads for our conventional fixed-rate debt. |
| · | If CIBCWM were to repurchase your
Trigger PLUS after the Original Issue Date, the price may be higher than the then-current estimated value of the Trigger PLUS for a limited
time period. |
| · | Economic and market factors may
adversely affect the terms and market price of the Trigger PLUS prior to maturity. |
| · | The Trigger PLUS will not be listed
on any securities exchange and we do not expect a trading market for the Trigger PLUS to develop. |
Tax Considerations
You should review carefully the discussion in “Additional
Information About the Trigger PLUS — United States Federal Income Tax Considerations” and “— Certain Canadian
Federal Income Tax Considerations” in the accompanying pricing supplement, “Material U.S. Federal Income Tax Consequences”
in the underlying supplement and “Material Income Tax Consequences—Canadian Taxation” in the prospectus concerning the
U.S. and the Canadian federal income tax consequences of an investment in the Trigger PLUS, and you should consult your tax adviser.
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