|
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 [95.00% to 89.00%] of the principal amount.
· Any positive return on the notes is limited. The notes
provide for a positive return if the level of the Market Measure increases or does not decrease by more than [5.00% to 11.00%]. However,
any positive return on the notes based on the appreciation of the Market Measure will be limited to the return represented by the Capped
Value. In addition, the absolute value return feature applies only if the Ending Value is less than the Starting Value but greater than
or equal to the Threshold Value. Because the Threshold Value will be [95.00% to 89.00%] of the Starting Value, any positive return due
to the depreciation of the Market Measure will be limited to [5.00% to 11.00%]. The actual Threshold Value and, by extension, the cap
on the positive return due to the depreciation of the Market Measure , will be determined on the pricing date. Any decline in the Ending
Value from the Starting Value by more than [5.00% to 11.00%] will result in a loss, rather than a positive return, on the notes.
·
Your investment return may be less than a comparable investment directly in the stocks included in the Market
Measure.
·
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.
·
The notes are subject to risks associated with small-size capitalization companies.
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. | 
