Quantum Battery Metals Corp. — Capital/Financing Update 2022

Jul 18, 2022

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CIBC CANADIAN INDEX BOOSTED RETURN BARRIER NOTES, SERIES 14 (F-CLASS)

Principal At Risk Notes – Due February 3, 2028

Dated July 18, 2022

A final base shelf prospectus containing important information relating to the securities described in this document has been filed with the securities regulatory authorities in each of the provinces and territories of Canada. 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. 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 relating to the securities offered, before making an investment decision.

Linked to S&P/TSX 60[TM] Index Booster Level Unlimited Upside Potential 58.00%

Investment Highlights

Currency

CAD Denominated.

Reference Index The S&P/TSX 60[TM] Index.

Outperformance Potential

At maturity, if the Reference Index Return is less than or equal to 58.00% and is greater than or equal to -10.00%, the Variable Return will be equal to 58.00%. If the Reference Index Return is greater than 58.00%, the Variable Return will be equal to 58.00% plus 100.00% of the Reference Index Return in excess of 58.00%.

Downside Exposure

If the Reference Index Return at maturity is less than -10.00%, the Variable Return on the Notes will be equal to the Reference Index Return (which will be negative in these circumstances and will result in a loss of a portion of the Principal Amount at maturity). The Notes may return as little as $1.00 of the Principal Amount invested per Note.

TermAvailable UntilIssue DateMaturity DateMinimum InvestmentHow to Buy	TermAvailable UntilIssue DateMaturity DateMinimum InvestmentHow to Buy	TermAvailable UntilIssue DateMaturity DateMinimum InvestmentHow to Buy
5.5 YearsJuly 27, 2022August 3, 2022February 3, 2028$5,000.00Wood Gundy: SyndNETThird Party: Fundserv CBL13745
Distribution groups 1British Columbia:877 858-9332Ontario:866 474-4166	Distribution groups 2Prairies:866 391-8633Québec:855 847-6696	Distribution groups 3Atlantic Canada:888 847-6407Fundserv Client Services:866 474-0142

*Investors will not have any right to receive any dividends or other distributions on any securities included in the Reference Index. The annual dividend yield of the securities included in the Reference Index was 3.21% for the 12 months ended July 8, 2022, which would represent aggregate dividends of 17.66% over the five and a half year term of the Notes, assuming the dividend yield remains consistent and the dividends are not reinvested.

CIBC Canadian Index Boosted Return Barrier Notes, Series 14 (F-Class) | 1

Hypothetical Examples

					Annual
		Reference	Variable	Maturity Amount per Note =	Compounded
Example		Index Return	Return	$100.00 x (100.00% + Variable Return)	Return
Example	1	-100.00%	-100.00%	$1.00	-56.71%
Example	2	-60.00%	-60.00%	$40.00	-15.35%
Example	3	-40.00%	-40.00%	$60.00	-8.87%
Example	4	-10.00%	58.00%	$158.00	8.67%
Example	5	0.00%	58.00%	$158.00	8.67%
Example	6	20.00%	58.00%	$158.00	8.67%
Example	7	58.00%	58.00%	$158.00	8.67%
Example	8	60.00%	60.00%	$160.00	8.92%
Example	9	100.00%	100.00%	$200.00	13.43%

The above hypothetical examples show how the Maturity Amount would be calculated under nine different scenarios. These examples are for illustrative purposes only and should not be construed as an estimate or forecast of the performance of the Reference Index at any time during the term of the Notes or the Variable Return to be determined on the Valuation Date. The actual performance of the Reference Index will be different from these hypothetical examples and the differences may be material.

Investment Details

Issuer

Canadian Imperial Bank of Commerce (“CIBC”).

Principal Amount

$100.00 (Par) per Note.

Issue Size

Maximum $50,000,000 (500,000 Notes).

Minimum Subscription

$5,000 (50 Notes).

Reference Index

The S&P/TSX 60[TM] Index.

Issue Date

August 3, 2022

Maturity Date / Term

February 3, 2028 (5.5 years, subject to the occurrence of a Market Disruption Event).

Valuation Date

January 27, 2028 provided that if such day is not an Exchange Day, then the Valuation Date will be the immediately preceding Exchange Day, subject to the occurrence of a Market Disruption Event.

CIBC Canadian Index Boosted Return Barrier Notes, Series 14 (F-Class) | 2

Reference Index Return

The Reference Index Return will be a number (positive or negative), expressed as a percentage, determined as follows:

(Index LevelVD – Index LevelID) / Index LevelID

where:

• the “Index LevelVD” will be the Closing Level on the Valuation Date; and

• the “Index LevelID” will be the Closing Level on the Issue Date, provided that if the Issue Date is not an Exchange Day, the Index LevelID shall be determined on the next following Exchange Day (in which case references to the Closing Level on the Issue Date shall be deemed to refer to the Closing Level on such next following Exchange Day),

subject in each case to the provisions set out under “Market Disruption Events, Adjustments and Substitutions and Extraordinary Events” in the Prospectus.

Maturity Amount

Investors will be entitled to receive on the later of (a) the fifth Business Day following the Valuation Date and (b) the Maturity Date in respect of each Note held by such Investor, an amount (the “Maturity Amount”) equal to the product of:

a) $100.00; and

• b) 100.00% plus the Variable Return,

subject to a minimum Maturity Amount of $1.00 per Note.

Variable Return

The Variable Return will be calculated as follows:

• i) where the Reference Index Return is greater than 58.00%, the Variable Return will be equal to 58.00% plus 100.00% of the Reference Index Return in excess of 58.00%;

• ii) where the Reference Index Return is less than or equal to 58.00% and greater than or equal to -10.00%, the Variable Return will be equal to 58.00%;

• iii) where the Reference Index Return is less than -10.00%, the Variable Return will be equal to the Reference Index Return (which will be negative in these circumstances and will result in a loss of a portion of the Principal Amount at maturity).

Secondary Market

The Notes will not be listed on any securities exchange or quotation system. CIBC World Markets Inc. (“CIBC WM”) intends to provide a daily secondary market for the sale of Notes to CIBC WM, but reserves the right not to do so, in its sole discretion, at any time without any prior notice to Investors. No other secondary market for the Notes will be available. Any sale in the secondary market may be made at a price less than the Principal Amount. A sale of Notes originally purchased using the Fundserv network will be subject to certain additional procedures and limitations established by the Fundserv network.

An Investor who disposes of a Note to CIBC WM in the secondary market will generally be required to include in income as interest the amount, if any, by which the sale price exceeds the Principal Amount of such Note. Investors who dispose of a Note prior to maturity should consult their own tax advisors. See “Certain Canadian Federal Income Tax Considerations” in the Pricing Supplement.

Calculation Agent

CIBC WM.

CIBC Canadian Index Boosted Return Barrier Notes, Series 14 (F-Class) | 3

Registered Account Eligibility

RRSPs, RRIFs, RESPs, RDSPs, certain DPSPs, and TFSAs.

Fundserv is a registered trademark of Fundserv Inc.

This document should be read in conjunction with the short form base shelf prospectus dated September 17, 2021 (the “Prospectus”) and the CIBC Pricing Supplement No. 1,234 to the Prospectus dated July 18, 2022 (the “Pricing Supplement”).

An investment in the Notes involves risks not associated with conventional fixed rate or floating rate debt securities. None of CIBC, the Dealers or any of their respective affiliates, associates, or any other person or entity guarantees that holders of Notes will receive an amount equal to their original investment in the Notes or guarantees that any return will be paid on the Notes (subject to the minimum Maturity Amount of $1.00 per Note) at or prior to maturity of the Notes. Amounts paid to holders of the Notes will depend on the performance of the Reference Index. An investment in Notes is not suitable for a purchaser who does not understand (either on his or her own or with the help of a financial advisor) the terms of the Notes or the risks associated with the Notes and with structured products, options or similar financial instruments generally. See “Risk Factors” in the Prospectus and “Certain Risk Factors” in the Pricing Supplement. The S&P/TSX 60 Index™ is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and TSX Inc., 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”), Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and have been sublicensed for certain purposes by CIBC. TSX is a trademark of TSX Inc., and has been licensed for use by SPDJI and CIBC. The Notes are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, their respective affiliates, or the TSX Inc. and none of such parties make any representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of the S&P/TSX 60 Index™.

The Notes will not constitute deposits that are insured under the Canada Deposit Insurance Corporation Act or any other deposit insurance regime designed to ensure the payment of all or a portion of a deposit upon the insolvency of the deposit taking institution.

The principal amount of the Notes will not be fully guaranteed and, subject to the minimum Maturity Amount of $1.00 per Note, will be at risk. As a result, Investors could lose substantially all of their original investment in the Notes.

CIBC WM intends to provide a secondary market for the sale of Notes to CIBC WM but reserves the right not to do so, in its sole discretion, at any time without any prior notice to holders of Notes. There is no other market through which the Notes may be sold and purchasers may not be able to re-sell Notes.

CIBC WM is a wholly-owned subsidiary of CIBC. By virtue of such ownership, CIBC is a “related issuer” and a “connected issuer” of CIBC WM within the meaning of applicable securities legislation. See “Plan of Distribution” in the Prospectus.

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