Filed Pursuant to Rule 433

File No. 333-273505

(To Prospectus dated September 6, 2023 and Preliminary Prospectus Supplement dated April 1, 2024)

A final base shelf prospectus containing important information relating to the securities described in this document has been filed with the US Securities and Exchange Commission. A copy of the final base shelf prospectus, any amendment to the final base shelf prospectus and any applicable shelf prospectus supplement that has been filed, is required to be delivered with this document where required by applicable law.

This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final base shelf prospectus, any amendment and any applicable shelf prospectus supplement for disclosure of those facts, especially risk factors and tax consequences relating to the securities offered, before making an investment decision. Investing in the Notes involves risks. See the "Risk Factors" sections of the Prospectus Supplement and the accompanying Prospectus.


US$750,000,000 5.260% Senior Notes due 2029

(the "Notes")

Pricing Term Sheet

April 1, 2024


Canadian Imperial Bank of Commerce (the "Bank")

Pricing Date:

April 1, 2024

Settlement Date**:

April 8, 2024 (T+5)

Joint Book-Running Managers:

CIBC World Markets Corp.

BofA Securities, Inc.

Deutsche Bank Securities Inc.

J.P. Morgan Securities LLC

Morgan Stanley & Co. LLC


Barclays Capital Inc.

BNP Paribas Securities Corp.

Citigroup Global Markets Inc.

Goldman Sachs & Co. LLC

HSBC Securities (USA) Inc.

ING Financial Markets LLC

Loop Capital Markets LLC

Mizuho Securities USA LLC

MUFG Securities Americas Inc.

Natixis Securities Americas LLC

Santander US Capital Markets LLC

UBS Securities LLC

Wells Fargo Securities, LLC

Bail-inable Notes:

The Notes are bail-inable notes and subject to conversion in whole

or in part - by means of a transaction or series of transactions and

in one or more steps - into common shares of the Bank or any of its

affiliates under subsection 39.2(2.3) of the Canada Deposit Insurance

Corporation Act (the "CDIC Act") and to variation or extinguishment

in consequence, and subject to the application of the laws of the

Province of Ontario and the federal laws of Canada applicable therein

in respect of the operation of the CDIC Act with respect to the Notes.

For a description of the Canadian bank resolution powers and related

risk factors attaching to investment in the Notes, see information

under the headings "Description of the Notes - Special Provisions

Related to Bail-in Regime" a n d "Risk Factors" in the prospectus

supplement relating to the Notes.

Use of Proceeds:

The net proceeds from the sale of the Notes will be added to the

Bank's funds and will be used for general corporate purposes.

Aggregate Principal Amount Offered:


Coupon (Interest Rate):


Interest Payment Dates:

April 8 and October 8 of each year, commencing on October 8, 2024,

and at maturity

Maturity Date:

April 8, 2029

Benchmark Treasury:

UST 4.125% due March 31, 2029

Benchmark Treasury Price/Yield:

99-02 ¾ / 4.330%

Spread to Benchmark Treasury:

+93 basis points

Yield to Maturity:


Price to the Public:

100.000% of the principal amount plus accrued interest, if any, from

April 8, 2024

Optional Redemption:

At any time prior to March 8, 2029 (one month prior to the maturity

date of the Notes) (the "Par Call Date"), the Bank may redeem the

Notes, in whole at any time or in part from time to time, at the Bank's

option, on at least 30 days', but not more than 60 days' prior notice,

at a redemption price equal to the greater of:

(i) 100% of the principal amount of the Notes to be redeemed; and

(ii) (a) the sum of the present values of the remaining scheduled

payments of principal and interest on the Notes to be redeemed

discounted to the redemption date (assuming the Notes to be

redeemed matured on the Par Call Date), on a semi-annual basis

(assuming a 360-day year consisting of twelve 30-day months) at

the Treasury Rate (as defined in the prospectus supplement)

plus 15 basis points less (b) interest accrued to, but excluding,

the redemption date;

plus, in either case, accrued and unpaid interest on the principal

a m o u n t o f t h e N o t e s t o b e r e d e e m e d t o , b u t e x c l u d i n g , t h e

redemption date.


In addition, at any time on and after the Par Call Date, the Bank may

redeem some or all of the Notes at the Bank's option, at a redemption

price equal to 100% of the principal amount of the Notes to be

r e d e e m e d , p l u s a c c r u e d a n d u n p a i d i n t e r e s t t h e r e o n t o , b u t

excluding, the redemption date.

Tax Redemption:

The Bank may redeem the Notes at its option in whole but not in part,

u p o n t h e o c c u r r e n c e o f c e r t a i n e v e n t s p e r t a i n i n g t o C a n a d i a n

taxation. This redemption would be at 100% of the principal amount,

together with accrued and unpaid interest on the Notes to, but

excluding, the redemption date.


13608JAA5 / US13608JAA51

The Bank has filed a shelf registration statement on Form F-3 (File No. 333-273505) and a preliminary prospectus supplement dated April 1, 2024 (including the base prospectus, the "Prospectus") with the U.S. Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the Prospectus and the documents incorporated therein by reference that the Bank has filed with the SEC for more complete information about the Bank and this offering.

You may obtain these documents for free by visiting EDGAR on the SEC website at Alternatively, the Bank or any underwriter participating in the offering will arrange to send you the Prospectus and any document incorporated therein by reference if you request such documents by calling CIBC World Markets Corp. toll-free at (800) 282-0822; BofA Securities, Inc. toll-free at (800) 294-1322; Deutsche Bank Securities Inc. toll free at (800) 503-4611; J.P. Morgan Securities LLC at (212) 834-4533; or Morgan Stanley & Co. LLC toll-free at (866) 718-1649.

**We expect that delivery of the Notes will be made against payment therefor on or about April 8, 2024, which is five business days following the date of pricing of the Notes (this settlement cycle being referred to as "T+5"). Under Rule 15c6-1 of the U.S. Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade their Notes on any date prior to two business days before delivery will be required, by virtue of the fact that the Notes initially will settle in T+5, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of Notes who wish to trade their Notes on any date prior to two business days before delivery should consult their own advisor.

Any legends, disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such legends, disclaimer or other notices have been automatically generated as a result of this communication having been sent via Bloomberg or another email system.



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CIBC - Canadian Imperial Bank of Commerce published this content on 11 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2024 05:18:05 UTC.