Filed Pursuant to Rule 433       

Registration No. 333-202584    

Accelerated Return Notes^® Linked to the S&P Regional Banks Select Industry Index

This graph reflects the hypothetical return on the notes, based on the mid-point of the range(s) set forth in the table to the left. This graph has been prepared for purposes of illustration only.

Issuer

Canadian Imperial Bank of Commerce (“CIBC”)

Principal Amount

$10.00 per unit

Term

Approximately 14 months

Market Measure

S&P Regional Banks Select Industry Index (Bloomberg symbol: “SPSIRBK”)

Payout Profile at Maturity

●  3-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, with 100% of your investment at risk

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 full downside risk and forgo interim interest payments.

Preliminary Offering Documents

http://www.sec.gov/Archives/edgar/data/1045520/000119312515412006/d110486dfwp.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.

Depending on the performance of the Market Measure as measured shortly before the maturity date, your investment may result in a loss; there is no guaranteed return of principal.

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.

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 or dividends or other distributions by the issuers of those securities.

The stocks included in the Index are concentrated in one sector.

Economic conditions have adversely impacted the stock prices of many companies in the financial services sector, and may do so during the term of the notes.