CIBC Files 424B2 Prospectus for Future Securities Offering

TL;DR

**CIBC just filed a shelf prospectus, prepping for potential future capital raises.**

AI Summary

Canadian Imperial Bank of Commerce (CIBC) filed a 424B2 prospectus on March 25, 2026, indicating a potential offering of securities under their existing shelf registration (File No. 333-272447). This filing is a standard procedure for large financial institutions to prepare for future capital raises, such as issuing new shares or debt. For investors, this matters because it signals CIBC's intent to potentially raise capital, which could dilute existing shares if equity is issued, or increase debt obligations, impacting the company's financial structure.

Why It Matters

This filing allows CIBC to quickly raise capital in the future, which could impact share value through dilution or change the company's debt profile.

Risk Assessment

Risk Level: medium — While a standard procedure, the actual offering of securities could introduce dilution for shareholders or increase debt, posing a medium risk.

Analyst Insight

Investors should monitor future CIBC announcements for specific details on any actual securities offerings, as these could impact share price or debt levels. This filing itself is preparatory, not an immediate transaction.

Key Numbers

• 333-272447 — Shelf Registration File No. (The existing registration under which CIBC can offer securities.)
• 2026-03-25 — Filing Date (The date the 424B2 prospectus was filed.)
• 0001045520 — CIK (Unique identifier for Canadian Imperial Bank of Commerce.)

Key Players & Entities

• CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (company) — Filer of the 424B2 prospectus
• 0001045520 (company) — CIK for Canadian Imperial Bank of Commerce
• 333-272447 (dollar_amount) — File number for the shelf registration statement
• 2026-03-25 (dollar_amount) — Filing date of the 424B2 prospectus

Forward-Looking Statements

• CIBC will likely issue new securities (debt or equity) within the next 12-24 months. (CANADIAN IMPERIAL BANK OF COMMERCE /CAN/) — medium confidence, target: 2028-03-25

FAQ

Key Financial Figures

• $1,000 — l be issued in minimum denominations of $1,000, and integral multiples of $1,000 in ex
• $1,000.00 — (1)(2) Proceeds to CIBC Per Note $1,000.00 Up to $6.00 At least $994.00 Tota
• $6.00 — to CIBC Per Note $1,000.00 Up to $6.00 At least $994.00 Total $ $ $
• $994.00 — te $1,000.00 Up to $6.00 At least $994.00 Total $ $ $ (1) Because certa

Filing Documents

• form424b2.htm (424B2) — 95KB
• image_001.jpg (GRAPHIC) — 19KB
• 0001918704-26-008044.txt ( ) — 121KB

From the Filing

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and the accompanying prospectus supplement and prospectus are not an offer to sell these securities and we are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. Filed Pursuant to Rule 424(b)(2) Registration No. 333-272447 PRICING SUPPLEMENT dated , 2026 (To Prospectus Supplement dated September 5, 2023 and Prospectus dated September 5, 2023) Canadian Imperial Bank of Commerce Senior Global Medium-Term Notes $ 4.50% Callable Notes due March 23, 2029 We, Canadian Imperial Bank of Commerce (the "Bank" or "CIBC"), are offering $ aggregate principal amount of 4.50% Callable Notes due March 23, 2029 (CUSIP 13609FHF4 / ISIN US13609FHF45) (the "Notes"). At maturity, if the Notes have not been previously redeemed, you will receive a cash payment equal to 100% of the principal amount, plus any accrued and unpaid interest. Interest will be paid annually on April 8 of each year, commencing on April 8, 2027 and ending on the Maturity Date. The Notes will accrue interest annually at a rate of 4.50% per annum during the term of the Notes. We have the right to redeem the Notes, in whole but not in part, annually, on the Interest Payment Date falling on April 8 of each year, beginning on April 8, 2027 and ending on April 8, 2028. The Redemption Price will be 100% of the principal amount plus accrued and unpaid interest to, but excluding, the applicable Optional Redemption Date. The Notes will be issued in minimum denominations of $1,000, and integral multiples of $1,000 in excess thereof. The Notes will not be listed on any securities exchange. The Notes are unsecured obligations of CIBC and all payments on the Notes are subject to the credit risk of CIBC. The Notes will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other government agency or instrumentality of Canada, the United States or any other jurisdiction. Neither the Securities and Exchange Commission (the "SEC") nor any state or provincial securities commission has approved or disapproved of these Notes or determined if this pricing supplement or the accompanying prospectus supplement and prospectus is truthful or complete. Any representation to the contrary is a criminal offense. The Notes are bail-inable debt securities (as defined in the accompanying prospectus) 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. See "Description of Senior Debt Securities Special Provisions Related to Bail-inable Debt Securities" and "— Canadian Bank Resolution Powers" in the accompanying prospectus and "Risk Factors Risks Relating to Bail-Inable Notes" in the accompanying prospectus supplement. Investing in the Notes involves risks. See the "Additional Risk Factors" beginning on page PS-6 of this pricing supplement and the "Risk Factors" beginning on page S-1 of the accompanying prospectus supplement and page 1 of the prospectus. Price to Public (Original Issue Price) (1) Underwriting Discount (1)(2) Proceeds to CIBC Per Note $1,000.00 Up to $6.00 At least $994.00 Total $ $ $ (1) Because certain dealers who purchase the Notes for sale to certain fee-based advisory accounts may forgo some or all of their commissions or selling concessions, the price to public for investors purchasing the Notes in these accounts may be between $994.00 and $1,000.00 per Note. (2) CIBC World Markets Corp. ("CIBCWM"), acting as agent for the Bank, will receive a commission of up to $6.00 (0.60%) per $1,000 principal amount of the Notes. CIBCWM may use a portion or all of its commission to allow selling concessions to other dealers in connection with the distribution of the Notes. The other dealers may forgo, in their sole discretion, some or all of their selling concessions. See "Supplemental Plan of Distribution (Conflicts of Interest)" on page PS-12 of this pricing supplement. We will deliver the Notes in book-entry form through the facilities of The Depository Trust Company ("DTC") on or about April 8, 2026 against payment in immediately available funds. CIBC Capital Markets ABOUT THIS PRICING SUPPLEMENT You should read this pricing supplement together with the prospectus dated September 5, 2023 (the "prospectus") and the prospectus supplement dated September 5, 2023 (the "prospectus supplement"), each rela

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View this 424B2 filing on SEC EDGAR