Obligation CBIC 0% ( US13607G4507 ) en USD

CBIC

100 % ▲

Canada

US13607G4507 ( en USD )

25/10/2024 - Obligation échue

Prospectus brochure de l'obligation CIBC US13607G4507 en USD 0%, échue

1 000 USD

26 420 000 USD

13607G450

N/A

La Banque CIBC (Canadian Imperial Bank of Commerce) est une grande banque commerciale canadienne offrant une gamme complète de services financiers, y compris des services bancaires aux particuliers et aux entreprises, des services de gestion de patrimoine et des services de marchés des capitaux.

L'Obligation émise par CBIC ( Canada ) , en USD, avec le code ISIN US13607G4507, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 25/10/2024

L'Obligation émise par CBIC ( Canada ) , en USD, avec le code ISIN US13607G4507, a été notée NR par l'agence de notation Moody's.

10/29/2019
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424B2 1 a19-19323_43424b2.htm SPUS 649 FPS

Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-216286
(To Prospectus dated March 28, 2017,
Prospectus Supplement dated November 6, 2018 and
Product Supplement EQUITY INDICES LIRN-1 dated
March 30, 2017)

2,641,995 Units
Pricing Date
October
$10 principal amount per unit
Settlement Date
24,
CUSIP No. 13607G450
Maturity Date
2019
October
31,
2019
October
25,
2024

Leveraged Index Return Notes Linked to
®
the Dow Jones Industrial Average®
§
Maturity of approximately five years

§
117.20% upside exposure to increases in the Index

§
1-to-1 downside exposure to decreases in the Index beyond a 20% decline, with up to 80% of your principal at risk

§
Al payments occur at maturity and are subject to the credit risk of Canadian Imperial Bank of Commerce

§
No periodic interest payments

§
In addition to the underwriting discount set forth below, the notes include a hedging-related charge of $0.075 per

unit. See "Structuring the Notes"
§
Limited secondary market liquidity, with no exchange listing

§
The notes are unsecured debt securities and are not savings accounts or insured deposits of a bank. The notes are

not insured or guaranteed by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance
Corporation or any other governmental agency of the United States, Canada, or any other jurisdiction

The notes are being issued by Canadian Imperial Bank of Commerce ("CIBC"). There are important differences between the
notes and a conventional debt security, including different investment risks and certain additional costs. See "Risk Factors"
beginning on page TS-6 of this term sheet and beginning on page PS-6 of product supplement EQUITY INDICES LIRN-1.
The initial estimated value of the notes as of the pricing date is $9.46 per unit, which is less than the public offering price listed
below. See "Summary" on the following page, "Risk Factors" beginning on page TS-6 of this term sheet and "Structuring the Notes" on
page TS-11 of this term sheet for additional information. The actual value of your notes at any time will reflect many factors and cannot
be predicted with accuracy.

None of the Securities and Exchange Commission (the "SEC"), any state securities commission, or any other regulatory body has
approved or disapproved of these securities or determined if this Note Prospectus (as defined below) is truthful or complete. Any
representation to the contrary is a criminal offense.

Per Unit

Total
Public offering price

$ 10.00

$26,419,950.00
Underwriting discount

$ 0.25

$ 660,498.75
Proceeds, before expenses, to CIBC

$ 9.75

$25,759,451.25

The notes:
Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value

BofA Securities
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Leveraged Index Return Notes

®
Linked to the Dow Jones Industrial Average , due October 25, 2024
®
Summary
The Leveraged Index Return Notes L
® inked to the Dow Jones Industrial Average ,
® due October 25, 2024 (the "notes") are our senior unsecured
debt securities. The notes are not guaranteed or insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance
Corporation or any other governmental agency of the United States, Canada or any other jurisdiction or secured by col ateral. The notes are not
bail-inable notes (as defined on page S-2 of the prospectus supplement). The notes will rank equally with all of our other unsecured and
unsubordinated debt. Any payments due on the notes, including any repayment of principal, will be subject to the credit risk of CIBC.
The notes provide you a leveraged return if the Ending Value of the Market Measure, which is the Dow Jones Industrial Average
® (the "Index"),
is greater than the Starting Value. If the Ending Value is equal to or less than the Starting Value but greater than or equal to the Threshold Value,
you wil receive the principal amount of your notes. If the Ending Value is less than the Threshold Value, you wil lose a portion, which could be
significant, of the principal amount of your notes. Any payments on the notes wil be calculated based on the $10 principal amount per unit and
wil depend on the performance of the Index, subject to our credit risk. See "Terms of the Notes" below.
The economic terms of the notes (including the Participation Rate) are based on our internal funding rate, which is the rate we would pay to
borrow funds through the issuance of market-linked notes, and the economic terms of certain related hedging arrangements. Our internal
funding rate is typical y lower than the rate we would pay when we issue conventional fixed rate debt securities. This difference in funding rate,
as wel as the underwriting discount and the hedging related charge described below, reduced the economic terms of the notes to you and the
initial estimated value of the notes on the pricing date. Due to these factors, the public offering price you pay to purchase the notes is greater
than the initial estimated value of the notes.
On the cover page of this term sheet, we have provided the initial estimated value for the notes. This initial estimated value was determined
based on our pricing models, and was based on our internal funding rate on the pricing date, market conditions and other relevant factors
existing at that time, and our assumptions about market parameters. For more information about the initial estimated value and the structuring of
the notes, see "Structuring the Notes" on page TS-11.

Terms of the Notes
Redemption Amount Determination

Issuer:
Canadian Imperial Bank of Commerce
On the maturity date, you wil receive a cash payment per unit determined as
("CIBC")
fol ows:
Principal
$10.00 per unit
Amount:
Term:
Approximately five years
Market Measure:
The Dow Jones Industrial
Average
® (Bloomberg symbol: "INDU"), a
price return index
Starting Value:
26,805.53
Ending Value:
The average of the closing levels of the
Market Measure on each calculation day
occurring during the Maturity Valuation
Period. The scheduled calculation days are
subject to postponement in the event of
Market Disruption Events, as described
beginning on page PS-18 of product
supplement EQUITY INDICES LIRN-1.
Threshold Value: 21,444.42 (80% of the Starting Value,
rounded to two decimal places).
Participation
117.20%
Rate:
Maturity
October 16, 2024, October 17, 2024,
Valuation Period: October 18, 2024, October 21, 2024
and October 22, 2024
Fees and
The underwriting discount of $0.25 per unit
Charges:
listed on the cover page and the hedging-
related charge of $0.075 per unit described
in "Structuring the Notes" on page TS-11.
Calculation
BofA Securities, Inc. ("BofAS").
Agent:

Leveraged Index Return Notes
®
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Leveraged Index Return Notes

®
Linked to the Dow Jones Industrial Average , due October 25, 2024
®

The terms and risks of the notes are contained in this term sheet and in the following:
§ Product supplement EQUITY INDICES LIRN-1 dated March 30, 2017:

https://www.sec.gov/Archives/edgar/data/1045520/000110465917020278/a17-7416_10424b5.htm
§ Prospectus dated March 28, 2017 and prospectus supplement dated November 6, 2018:

https://www.sec.gov/Archives/edgar/data/1045520/000110465918066166/a18-37094_1424b2.htm
As a result of the completion of the reorganization of Bank of America's U.S. broker-dealer business, references to Merrill Lynch, Pierce,
Fenner & Smith Incorporated ("MLPF&S") in the accompanying product supplement EQUITY INDICES LIRN-1, as such references
relate to MLPF&S's institutional services, should be read as references to BofAS.
These documents (together, the "Note Prospectus") have been filed as part of a registration statement with the SEC, which may, without
cost, be accessed on the SEC website as indicated above or obtained from MLPF&S or BofAS by calling 1-800-294-1322. Before you
invest, you should read the Note Prospectus, including this term sheet, for information about us and this offering. Any prior or
contemporaneous oral statements and any other written materials you may have received are superseded by the Note Prospectus.
When you read the accompanying product supplement, please note that all references in such supplement to the prospectus
supplement dated March 28, 2017, or to any sections therein, should refer instead to the accompanying prospectus supplement dated
November 6, 2018 or to the corresponding sections of such prospectus supplement, as applicable, unless otherwise specified or the
context otherwise requires. Capitalized terms used but not defined in this term sheet have the meanings set forth in product supplement
EQUITY INDICES LIRN-1. Unless otherwise indicated or unless the context requires otherwise, all references in this document to "we,"
"us," "our," or similar references are to CIBC.

Investor Considerations
You may wish to consider an investment in the notes if:
The notes may not be an appropriate investment for you if:
§
You anticipate that the Index will increase from the Starting
§
You believe that the Index will decrease from the Starting Value

Value to the Ending Value.
to the Ending Value or that it will not increase sufficiently over
§
You are willing to risk a substantial loss of principal if the Index
the term of the notes to provide you with your desired return.

decreases from the Starting Value to an Ending Value that is
§
You seek 100% principal repayment or preservation of capital.

below the Threshold Value.
§
You seek interest payments or other current income on your

§
You are willing to forgo the interest payments that are paid on
investment.

conventional interest bearing debt securities.
§
You want to receive dividends or other distributions paid on the

§
You are willing to forgo dividends or other benefits of owning
stocks included in the Index.

the stocks included in the Index.
§
You seek an investment for which there will be a liquid

§
You are willing to accept a limited or no market for sales prior to
secondary market.

maturity, and understand that the market prices for the notes, if
§
You are unwilling or are unable to take market risk on the notes

any, will be affected by various factors, including our actual and
or to take our credit risk as issuer of the notes.
perceived creditworthiness, our internal funding rate and fees
and charges on the notes.
§
You are willing to assume our credit risk, as issuer of the notes,

for all payments under the notes, including the Redemption
Amount.
We urge you to consult your investment, legal, tax, accounting, and other advisors before you invest in the notes.

Leveraged Index Return Notes
®
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Leveraged Index Return Notes

®
Linked to the Dow Jones Industrial Average , due October 25, 2024
®

Hypothetical Payout Profile and Examples of Payments at
Maturity

Leveraged Index Return Notes®
This graph reflects the returns on the notes, based on the

Threshold Value of 80% of the Starting Value and the
Participation Rate of 117.20%. The green line reflects the returns
on the notes, while the dotted gray line reflects the returns of a
direct investment in the stocks included in the Index, excluding
dividends.

This graph has been prepared for purposes of illustration only.

The following table and examples are for purposes of illustration only. They are based on hypothetical values and show hypothetical
returns on the notes. They illustrate the calculation of the Redemption Amount and total rate of return based on a hypothetical Starting
Value of 100.00, a hypothetical Threshold Value of 80.00, the Participation Rate of 117.20% and a range of hypothetical Ending Values.
The actual amount you receive and the resulting total rate of return will depend on the actual Starting Value, Threshold Value
and Ending Value, and whether you hold the notes to maturity. The following examples do not take into account any tax
consequences from investing in the notes.
For recent actual levels of the Market Measure, see "The Index" section below. The Index is a price return index and as such the Ending
Value will not include any income generated by dividends paid on the stocks included in the Index, which you would otherwise be
entitled to receive if you invested in those stocks directly. In addition, all payments on the notes are subject to issuer credit risk.

Percentage Change from the Starting
Redemption Amount
Total Rate of Return on the
Ending Value
Value to the Ending Value
per Unit
Notes
0.00
-100.00%
$2.000
-80.00%
30.00
-70.00%
$5.000
-50.00%
50.00
-50.00%
$7.000
-30.00%
80.00(1)
-20.00%
$10.000
0.00%
90.00
-10.00%
$10.000
0.00%
95.00
-5.00%
$10.000
0.00%
97.00
-3.00%
$10.000
0.00%
100.00(2)
0.00%
$10.000
0.00%
110.00
10.00%
$11.172
11.72%
120.00
20.00%
$12.344
23.44%
130.00
30.00%
$13.516
35.16%
140.00
40.00%
$14.688
46.88%
150.00
50.00%
$15.860
58.60%
200.00
100.00%
$21.720
117.20%
(1)
This is the hypothetical Threshold Value.

(2)
The hypothetical Starting Value of 100.00 used in these examples has been chosen for illustrative purposes only. The actual

Starting Value is 26,805.53, which was the closing level of the Market Measure on the pricing date.

Leveraged Index Return Notes
®
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Leveraged Index Return Notes

®
Linked to the Dow Jones Industrial Average , due October 25, 2024
®

Redemption Amount Calculation Examples

Example 1

The Ending Value is 50.00, or 50.00% of the Starting Value:

Starting Value:
100.00

Threshold Value: 80.00

Ending Value:
50.00

Redemption Amount per unit

Example 2

The Ending Value is 95.00, or 95.00% of the Starting Value:
Starting Value:
100.00

Threshold Value: 80.00

Ending Value:
95.00

Redemption Amount (per unit) = $10.000, the principal amount, since the Ending Value is less than the Starting Value but equal to or
greater than the Threshold Value.

Example 3

The Ending Value is 120.00, or 120.00% of the Starting Value:
Starting Value:
100.00

Ending Value:
120.00

Redemption Amount per unit

Leveraged Index Return Notes
®
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®
Linked to the Dow Jones Industrial Average , due October 25, 2024
®

Risk Factors

There are important differences between the notes and a conventional debt security. An investment in the notes involves significant
risks, including those listed below. You should carefully review the more detailed explanation of risks relating to the notes in the "Risk
Factors" sections beginning on page PS-6 of product supplement EQUITY INDICES LIRN-1, page S-1 of the prospectus supplement,
and page 1 of the prospectus identified above. We also urge you to consult your investment, legal, tax, accounting, and other advisors
before you invest in the notes.
§
Depending on the performance of the Index as measured shortly before the maturity date, you may lose up to 80% of the

principal amount.
§
Your return on the notes may be less than the yield you could earn by owning a conventional fixed or floating rate debt security of

comparable maturity.
§
Your investment return may be less than a comparable investment directly in the stocks included in the Index.

§
Payments on the notes are subject to our credit risk, and actual or perceived changes in our creditworthiness are expected to

affect the value of the notes. If we become insolvent or are unable to pay our obligations, you may lose your entire investment.
§
Our initial estimated value of the notes is lower than the public offering price of the notes. The public offering price of the notes

exceeds our initial estimated value because costs associated with selling and structuring the notes, as well as hedging the notes,
all as further described in "Structuring the Notes" on page TS-11, are included in the public offering price of the notes.
§
Our initial estimated value does not represent future values of the notes and may differ from others' estimates. Our initial

estimated value is only an estimate, which was determined by reference to our internal pricing models when the terms of the
notes were set. This estimated value was based on market conditions and other relevant factors existing at that time, our internal
funding rate on the pricing date and our assumptions about market parameters, which can include volatility, dividend rates,
interest rates and other factors. Different pricing models and assumptions could provide valuations for the notes that are greater
or less than our initial estimated value. In addition, market conditions and other relevant factors in the future may change, and
any assumptions may prove to be incorrect. On future dates, the market value of the notes could change significantly based on,
among other things, changes in market conditions, including the level of the Index, our creditworthiness, interest rate movements
and other relevant factors, which may impact the price at which MLPF&S, BofAS or any other party would be willing to buy notes
from you in any secondary market transactions. Our estimated value does not represent a minimum price at which MLPF&S,
BofAS or any other party would be willing to buy your notes in any secondary market (if any exists) at any time.
§
Our initial estimated value of the notes was not determined by reference to credit spreads for our conventional fixed-rate debt.

The internal funding rate that was used in the determination of our initial estimated value of the notes generally represents a
discount from the credit spreads for our conventional fixed-rate debt. The discount is based on, among other things, our view of
the funding value of the notes as well as the higher issuance, operational and ongoing liability management costs of the notes in
comparison to those costs for our conventional fixed-rate debt. If we were to have used the interest rate implied by our
conventional fixed-rate debt, we would expect the economic terms of the notes to be more favorable to you. Consequently, our
use of an internal funding rate for market-linked notes had an adverse effect on the economic terms of the notes, the initial
estimated value of the notes on the pricing date, and could have an adverse effect on any secondary market prices of the notes.
§
A trading market is not expected to develop for the notes. None of us, MLPF&S or BofAS is obligated to make a market for, or to

repurchase, the notes. There is no assurance that any party will be willing to purchase your notes at any price in any secondary
market.
§
Our business, hedging and trading activities, and those of MLPF&S, BofAS and our respective affiliates (including trades in

shares of companies included in the Index), and any hedging and trading activities we, MLPF&S, BofAS or our respective
affiliates engage in for our clients' accounts, may affect the market value and return of the notes and may create conflicts of
interest with you.
§
The Index sponsor may adjust the Index in a way that affects its level, and has no obligation to consider your interests.

§
You will have no rights of a holder of the securities represented by the Index, and you will not be entitled to receive securities or

dividends or other distributions by the issuers of those securities.
§
While we, MLPF&S, BofAS or our respective affiliates may from time to time own securities of the companies included in the

Index, we, MLPF&S, BofAS and our respective affiliates do not control any company included in the Index, and have not verified
any disclosure made by any other company.
§
There may be potential conflicts of interest involving the calculation agent, which is BofAS. We have the right to appoint and

remove the calculation agent.
§
The U.S. federal income tax consequences of the notes are uncertain, and may be adverse to a holder of the notes. See

"Summary of U.S. Federal Income Tax Consequences" below and "U.S. Federal Income Tax Summary" beginning on page PS-
29 of product supplement EQUITY INDICES LIRN-1. For a discussion of the Canadian federal income tax consequences of
investing in the notes, see "Material Income Tax Consequences--Canadian Taxation" in the prospectus dated March 28, 2017,
as supplemented by the discussion under "Summary of Canadian Federal Income Tax Considerations" herein.

Leveraged Index Return Notes
®
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Leveraged Index Return Notes

®
Linked to the Dow Jones Industrial Average , due October 25, 2024
®

The Index
All disclosures contained in this term sheet regarding the Index, including, without limitation, its make up, method of calculation, and
changes in its components, have been derived from publicly available sources, which we have not independently verified. The
information reflects the policies of, and is subject to change by, S&P Dow Jones Indices LLC ("SPDJI" or the "Index sponsor"). The Index
sponsor, which licenses the copyright and all other rights to the Index, has no obligation to continue to publish, and may discontinue
publication of, the Index. The consequences of the Index sponsor discontinuing publication of the Index are discussed in the section
entitled "Description of LIRNs--Discontinuance of an Index" beginning on page PS-19 of product supplement EQUITY INDICES LIRN-
1. None of us, the calculation agent, MLPF&S or BofAS accepts any responsibility for the calculation, maintenance or publication of the
Index or any successor index.
The Index is a price-weighted index of 30 U.S. blue-chip stocks, which represent all economic industries except transportation and
utilities. The Index was launched on May 26, 1896 with a base date of May 26, 1896. The Index is published by SPDJI and is reported
by Bloomberg under the ticker symbol "INDU."
Index Construction and Maintenance
The Index is maintained by the "Averages Committee," which is composed of three representatives of SPDJI and two representatives of
The Wall Street Journal. The Averages Committee meets regularly to review pending corporate actions that may affect index
constituents, statistics comparing the composition of the Index to the market, companies that are being considered as candidates for
addition to the Index and any significant market events.
The index universe for the Index consists of securities in the S&P 500 Index excluding stocks classified under Global Industry
®
Classification Standard ("GICS") code 2030 (Transportation) and 55 (Utilities). While stock selection is not governed by quantitative
rules, a stock typically is added only if the company has an excellent reputation, demonstrates sustained growth and is of interest to a
large number of investors. Companies should be incorporated and headquartered in the United States. In addition, a plurality of
revenues should be derived from the United States. Maintaining adequate sector representation within the index is also a consideration
in the selection process for the Index.
Changes to the Index are made on an as-needed basis. There is no annual or semi-annual reconstitution. Rather, changes in response
to corporate actions and market developments can be made at any time. Constituent changes are typically announced one to five days
before they are scheduled to be implemented.
Index Computation
The Index is a price-weighted index rather than a market capitalization-weighted index and therefore Index constituent weights are
determined solely by the prices of the constituent stocks in the Index.
The formula to calculate the Index is:

where,

P = the price of each constituent stock in the index
Shares outstanding are set to a uniform number throughout the Index and the index divisor is adjusted for any price impacting corporate
action on one of its member stocks; this includes price adjustments, special dividends, stock splits and rights offerings. The index divisor
will also adjust in the event of an addition to or deletion from the index. The Index is calculated without adjustments for regular cash
dividends.
Corporate actions (such as stock splits, stock dividends, and rights offerings) are applied after the close of trading on the day prior to the
ex-date. Any potential impact of a spin-off on constituents of the Index is evaluated by the Averages Committee on a case-by-case
basis.

Leveraged Index Return Notes
®
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Leveraged Index Return Notes

®
Linked to the Dow Jones Industrial Average , due October 25, 2024
®
The following graph shows the daily historical performance of the Index in the period from January 1, 2009 through October
24, 2019. We obtained this historical data from Bloomberg L.P. We have not independently verified the accuracy or
completeness of the information obtained from Bloomberg L.P. On the pricing date, the closing level of the Index was
26,805.53.

Historical Performance of the Index

This historical data on the Index is not necessarily indicative of the future performance of the Index or what the value of the
notes may be. Any historical upward or downward trend in the level of the Index during any period set forth above is not an
indication that the level of the Index is more or less likely to increase or decrease at any time over the term of the notes.

Before investing in the notes, you should consult publicly available sources for the levels of the Index.

License Agreement

Dow Jones is a registered trademark of Dow Jones T
®
rademark Holdings LLC ("Dow Jones"), and the Index is a product of SPDJI. We
and SPDJI have entered into a non-transferable, non-exclusive license agreement providing for the sublicense to us, in exchange for a
fee, of the right to use the Index in connection with the issuance of the notes.

The Index is a product of SPDJI, and has been licensed for use by CIBC. Standard & Poor's and S&P
®
are registered trademarks of
®
Standard & Poor's Financial Services LLC ("S&P"); DJIA , The Dow
®
, Dow Jones
®
and Dow Jones Industrial A
®
verage are trademarks of
®
Dow Jones; and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CIBC. The notes are
not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones
Indices").

S&P Dow Jones Indices makes no representation or warranty, express or implied, to the holders of the notes or any member of the
public regarding the advisability of investing in securities generally or in the notes particularly or the ability of the Index to track general
market performance. S&P Dow Jones Indices' only relationship to CIBC with respect to the Index is the licensing of the Index and
certain trademarks, service marks and/or trade names of S&P Dow Jones Indices or its licensors. The Index is determined, composed
and calculated by S&P Dow Jones Indices without regard to CIBC or the notes. S&P Dow Jones Indices have no obligation to take the
needs of CIBC or the holders of the notes into consideration in determining, composing or calculating the Index. S&P Dow Jones
Indices is not responsible for and has not participated in the determination of the prices and amount of the notes or the timing of the
issuance or sale of the notes or in the determination or calculation of the equation by which the notes are to be converted into cash,
surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the
administration, marketing or trading of the notes. There is no assurance that investment products based on the Index will accurately
track index performance or provide positive investment returns. SPDJI is not an investment advisor. Inclusion of a security within an
index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment
advice. Notwithstanding the foregoing, CME Group Inc. and its affiliates may independently issue and/or sponsor financial products
unrelated to the notes currently being issued by CIBC, but which may be similar to and competitive with the notes. In addition, CME
Group Inc. and its affiliates may trade financial products which are linked to the performance of the Index.

S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS
OF THE INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR
WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES
INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN.
S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND

Leveraged Index Return Notes
®
TS-8

https://www.sec.gov/Archives/edgar/data/1045520/000110465919056955/a19-19323_43424b2.htm
8/13

10/29/2019
https://www.sec.gov/Archives/edgar/data/1045520/000110465919056955/a19-19323_43424b2.htm
Leveraged Index Return Notes

®
Linked to the Dow Jones Industrial Average , due October 25, 2024
®

EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR
AS TO RESULTS TO BE OBTAINED BY CIBC, HOLDERS OF THE NOTES, OR ANY OTHER PERSON OR ENTITY FROM THE USE
OF THE INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO
EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE,
OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR
GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT,
STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR
ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND CIBC, OTHER THAN THE LICENSORS OF S&P DOW JONES
INDICES.

Leveraged Index Return Notes
®
TS-9

https://www.sec.gov/Archives/edgar/data/1045520/000110465919056955/a19-19323_43424b2.htm
9/13

10/29/2019
https://www.sec.gov/Archives/edgar/data/1045520/000110465919056955/a19-19323_43424b2.htm
Leveraged Index Return Notes

®
Linked to the Dow Jones Industrial Average , due October 25, 2024
®

Supplement to the Plan of Distribution
Under our distribution agreement with BofAS, BofAS will purchase the notes from us as principal at the public offering price indicated on
the cover of this term sheet, less the indicated underwriting discount.
MLPF&S will in turn purchase the notes from BofAS for resale, and it will receive a selling concession in connection with the sale of the
notes in an amount up to the full amount of the underwriting discount set forth on the cover of this term sheet.
We will deliver the notes against payment therefor in New York, New York on a date that is greater than two business days following the
pricing date. Under Rule 15c6-1 of the Securities Exchange Act of 1934, 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 the
notes more than two business days prior to the original issue date will be required to specify alternative settlement arrangements to
prevent a failed settlement.
The notes will not be listed on any securities exchange. In the original offering of the notes, the notes will be sold in minimum investment
amounts of 100 units. If you place an order to purchase the notes, you are consenting to MLPF&S and/or one of its affiliates acting as a
principal in effecting the transaction for your account.
MLPF&S and BofAS may repurchase and resell the notes, with repurchases and resales being made at prices related to then-prevailing
market prices or at negotiated prices, and these prices will include MLPF&S's and BofAS's trading commissions and mark-ups or mark-
downs. MLPF&S and BofAS may act as principal or agent in these market-making transactions; however, neither is obligated to engage
in any such transactions. At their discretion, for a short, undetermined initial period after the issuance of the notes, MLPF&S and BofAS
may offer to buy the notes in the secondary market at a price that may exceed the initial estimated value of the notes. Any price offered
by MLPF&S or BofAS for the notes will be based on then-prevailing market conditions and other considerations, including the
performance of the Index and the remaining term of the notes. However, none of us, MLPF&S, BofAS or any of our respective affiliates
is obligated to purchase your notes at any price or at any time, and we cannot assure you that we, MLPF&S, BofAS or any of our
respective affiliates will purchase your notes at a price that equals or exceeds the initial estimated value of the notes.
The value of the notes shown on your account statement will be based on BofAS's estimate of the value of the notes if BofAS or another
of its affiliates were to make a market in the notes, which it is not obligated to do. That estimate will be based upon the price that BofAS
may pay for the notes in light of then-prevailing market conditions, and other considerations, as mentioned above, and will include
transaction costs. At certain times, this price may be higher than or lower than the initial estimated value of the notes.
The distribution of the Note Prospectus in connection with these offers or sales will be solely for the purpose of providing investors with
the description of the terms of the notes that was made available to investors in connection with their initial offering. Secondary market
investors should not, and will not be authorized to, rely on the Note Prospectus for information regarding CIBC or for any purpose other
than that described in the immediately preceding sentence.

Leveraged Index Return Notes
®
TS-10

https://www.sec.gov/Archives/edgar/data/1045520/000110465919056955/a19-19323_43424b2.htm
10/13