Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
30 November 2024 - 7:10AM
Edgar (US Regulatory)
Filed Pursuant to Rule 433
Registration Statement No. 333-272447
| CAPPED LEVERAGED INDEX RETURN NOTES® (CAPPED LIRNs®) |
|
| Capped LIRNs® Linked to the S&P 500® Index |
| Issuer |
Canadian Imperial Bank of Commerce (“CIBC”) |
| Principal Amount |
$10.00 per unit |
| Term |
Approximately two years |
| Market Measure |
The S&P 500® Index (Bloomberg symbol: “SPX”) |
| Payout Profile at Maturity |
·
2-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 beyond a 10% decline, with up to 90% of your principal at risk |
| Participation Rate |
200% |
| Capped Value |
[$11.35 to $11.75] per unit, a [13.50% to 17.50%] return over the principal amount, to be determined on the pricing date. |
| Threshold Value |
90% of the Starting Value |
| 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 downside risk below a threshold and forgo interim interest payments. |
| Preliminary
Offering Documents |
https://www.sec.gov/Archives/edgar/data/1045520/000110465924123954/tm2427280d70_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 90% 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 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.
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% |
$1.00 |
-90.00% |
| -50.00% |
$6.00 |
-40.00% |
| -20.00% |
$9.00 |
-10.00% |
| -10.00%(1) |
$10.00 |
0.00% |
| -5.00% |
$10.00 |
0.00% |
| -3.00% |
$10.00 |
0.00% |
| 0.00% |
$10.00 |
0.00% |
| 2.00% |
$10.40 |
4.00% |
| 5.00% |
$11.00 |
10.00% |
| 7.75% |
$11.55(2) |
15.50% |
| 20.00% |
$11.55 |
15.50% |
| 50.00% |
$11.55 |
15.50% |
| 100.00% |
$11.55 |
15.50% |
(1) This hypothetical percentage change corresponds to the Threshold Value.
(2) 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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