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Tethys Petroleum — Capital/Financing Update 2026
Apr 11, 2026
46029_rns_2026-04-10_6ca6963e-fbee-48c0-8501-8b71dea2b98d.pdf
Capital/Financing Update
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CIBC
CIBC CANADA BANKS EQUAL WEIGHT INDEX (AR) AUTOCALLABLE COUPON NOTES, SERIES 285
Principal At Risk Notes – Due April 25, 2033
Dated April 10, 2026
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 Solactive Equal Weight Canada Bank 30 AR Index | 0.59% Monthly Contingent Coupon Payments (7.08% per annum) | Monthly Autocall Feature (starting in July 2026) | 40.00% Contingent Principal Protection |
|---|---|---|---|
Investment Highlights
Currency
CAD Denominated.
Reference Index
Solactive Equal Weight Canada Bank 30 AR Index. The Reference Index is an adjusted return index that aims to track the gross total return performance of the Solactive Equal Weight Canada Banks Index (the "Target Index"), subject to a reduction of a synthetic dividend of 30 index points per annum calculated daily in arrears on a 360 day basis at the time the Reference Index is calculated (the "Adjusted Return Factor").
Cash Flow
The Notes offer the opportunity to obtain monthly Coupon Payments equal to the Coupon Amount of $0.59 per Note if the Reference Index Return on the immediately preceding Valuation Date is greater than or equal to -40.00%.
Call Feature
The Notes will be automatically called by CIBC on a Call Date if the Reference Index Return on the Valuation Date immediately preceding such Call Date is greater than or equal to 5.00%.
Contingent Principal Protection
If the Notes are not automatically called by CIBC and if the Reference Index Return at maturity is negative, the Notes provide principal protection at maturity if the Reference Index Return is greater than or equal to -40.00% on the final Valuation Date. If, however, the Reference Index Return is less than -40.00% on the final Valuation Date, Investors will receive less than the Principal Amount at maturity, subject to a minimum payment of $1.00 per Note.
| Term | Available Until | Issue Date | Maturity Date (if not called) | Minimum Investment | How to Buy |
|---|---|---|---|---|---|
| 7 Years | April 17, 2026 | April 23, 2026 | April 25, 2033 | $5,000 | Wood Gundy: SyndNET |
| Third Party: Fundserv CBL22504 | |||||
| British Columbia: | 416 594-7663 | Prairies: | 416 594-8046 | Atlantic Canada: 416 594-8099 | |
| Ontario: | 416 956-6787 | Québec: | 514 847-6485 | Fundserv Client Services: 866 474-0142 |
The performance of the Reference Index reflects the gross total return performance of the Target Index as reduced by the Adjusted Return Factor. Investors will not have any right to receive any dividends or other distributions on any securities included in the Target Index. The annual dividend yield of the securities included in the Target Index was 3.25% for the 12 months ended April 2, 2026, which would represent aggregate dividends of 22.75% over the seven year term of the Notes, assuming the dividend yield remains consistent and the dividends are not reinvested.
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285
Hypothetical Examples
The following hypothetical examples show how the Coupon Payments and the Maturity Amount would be calculated under three different scenarios. The Reference Index Return will be calculated based on the performance of the Reference Index, which reflects the gross total return performance of the Target Index as reduced by the Adjusted Return Factor. 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 return that may be paid on the Notes. The actual performance of the Reference Index will be different from these hypothetical examples and the differences may be material.
Hypothetical Scenario #1 with no Coupon Payments payable and the Notes are not called prior to maturity
In this hypothetical scenario, the Reference Index Return was less than -40.00% on each Valuation Date. Accordingly, the Notes were not automatically called by CIBC prior to maturity and Investors would not be entitled to receive a Coupon Payment on any of the Coupon Payment Dates. The Variable Amount at maturity will be -$51.00 per Note, calculated as the product of $100.00 x -51.00%, as the Reference Index Return is less than -40.00% on the final Valuation Date. In this example the total cumulative return is -51.00% (which is equal to an annual compounded return of -9.69%).
| Monthly Valuation Date | Reference Index Return | Coupon Payment |
|---|---|---|
| 1 | -46.00% | $0.00 |
| 2 | -59.00% | $0.00 |
| 3 | -55.00% | $0.00 |
| 4 | -49.00% | $0.00 |
| 5 | -47.00% | $0.00 |
| 6 | -55.00% | $0.00 |
| 7 | -56.00% | $0.00 |
| 8 | -48.00% | $0.00 |
| 9 | -47.00% | $0.00 |
| 10 | -60.00% | $0.00 |
| 11 | -56.00% | $0.00 |
| 12 | -50.00% | $0.00 |
| 13 | -55.00% | $0.00 |
| 14 | -58.00% | $0.00 |
| 15 | -53.00% | $0.00 |
| 16 | -50.00% | $0.00 |
| 17 | -53.00% | $0.00 |
| 18 | -46.00% | $0.00 |
| 19 | -60.00% | $0.00 |
| 20 | -49.00% | $0.00 |
| 21 | -48.00% | $0.00 |
| 22 | -51.00% | $0.00 |
| 23 | -52.00% | $0.00 |
| 24 | -53.00% | $0.00 |
| 25 | -59.00% | $0.00 |
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285
| Monthly Valuation Date | Reference Index Return | Coupon Payment |
|---|---|---|
| 26 | -51.00% | $0.00 |
| 27 | -56.00% | $0.00 |
| 28 | -55.00% | $0.00 |
| 29 | -46.00% | $0.00 |
| 30 | -59.00% | $0.00 |
| 31 | -53.00% | $0.00 |
| 32 | -44.00% | $0.00 |
| 33 | -57.00% | $0.00 |
| 34 | -56.00% | $0.00 |
| 35 | -45.00% | $0.00 |
| 36 | -58.00% | $0.00 |
| 37 | -45.00% | $0.00 |
| 38 | -48.00% | $0.00 |
| 39 | -51.00% | $0.00 |
| 40 | -56.00% | $0.00 |
| 41 | -60.00% | $0.00 |
| 42 | -54.00% | $0.00 |
| 43 | -59.00% | $0.00 |
| 44 | -46.00% | $0.00 |
| 45 | -52.00% | $0.00 |
| 46 | -53.00% | $0.00 |
| 47 | -57.00% | $0.00 |
| 48 | -56.00% | $0.00 |
| 49 | -48.00% | $0.00 |
| 50 | -53.00% | $0.00 |
| 51 | -56.00% | $0.00 |
| 52 | -59.00% | $0.00 |
| 53 | -60.00% | $0.00 |
| 54 | -57.00% | $0.00 |
| 55 | -44.00% | $0.00 |
| 56 | -52.00% | $0.00 |
| 57 | -49.00% | $0.00 |
| 58 | -51.00% | $0.00 |
| 59 | -53.00% | $0.00 |
| 60 | -55.00% | $0.00 |
| 61 | -49.00% | $0.00 |
| 62 | -53.00% | $0.00 |
| 63 | -59.00% | $0.00 |
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 3
| Monthly Valuation Date | Reference Index Return | Coupon Payment |
|---|---|---|
| 64 | -48.00% | $0.00 |
| 65 | -57.00% | $0.00 |
| 66 | -45.00% | $0.00 |
| 67 | -47.00% | $0.00 |
| 68 | -56.00% | $0.00 |
| 69 | -50.00% | $0.00 |
| 70 | -43.00% | $0.00 |
| 71 | -56.00% | $0.00 |
| 72 | -58.00% | $0.00 |
| 73 | -58.00% | $0.00 |
| 74 | -52.00% | $0.00 |
| 75 | -47.00% | $0.00 |
| 76 | -49.00% | $0.00 |
| 77 | -53.00% | $0.00 |
| 78 | -50.00% | $0.00 |
| 79 | -47.00% | $0.00 |
| 80 | -47.00% | $0.00 |
| 81 | -49.00% | $0.00 |
| 82 | -56.00% | $0.00 |
| 83 | -43.00% | $0.00 |
| 84 | -51.00% | $0.00 |
Total Coupon Payments: $0.00
Variable Amount: $100.00 x -51.00% = -$51.00
Maturity Amount: $49.00
Annual Compounded Return: -9.69%
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 4
Hypothetical Scenario #2 with Coupon Payments payable on forty-three Coupon Payment Dates and the Notes are not called prior to maturity
In this hypothetical scenario, the Reference Index Return was below 5.00% on each Valuation Date and the Reference Index Return was less than -40.00% on forty-one Valuation Dates. Accordingly, the Notes were not automatically called by CIBC prior to maturity and Investors would be entitled to receive Coupon Payments on forty-three Coupon Payment Dates (aggregate Coupon Payments of $25.37 over the term of the Notes). The Variable Amount at maturity will be equal to $0.00 per Note, calculated as the product of $100.00 x 0.00%, as the Reference Index Return was greater than or equal to -40.00% on the final Valuation Date. In this example the total cumulative return is 25.37% (which is equal to an annual compounded return of 3.28%).
| Monthly Valuation Date | Reference Index Return | Coupon Payment |
|---|---|---|
| 1 | -52.00% | $0.00 |
| 2 | -44.00% | $0.00 |
| 3 | -42.00% | $0.00 |
| 4 | -46.00% | $0.00 |
| 5 | -52.00% | $0.00 |
| 6 | -46.00% | $0.00 |
| 7 | -41.00% | $0.00 |
| 8 | -45.00% | $0.00 |
| 9 | -45.00% | $0.00 |
| 10 | -47.00% | $0.00 |
| 11 | -55.00% | $0.00 |
| 12 | -41.00% | $0.00 |
| 13 | -48.00% | $0.00 |
| 14 | -47.00% | $0.00 |
| 15 | -46.00% | $0.00 |
| 16 | -43.00% | $0.00 |
| 17 | -55.00% | $0.00 |
| 18 | -54.00% | $0.00 |
| 19 | -41.00% | $0.00 |
| 20 | -48.00% | $0.00 |
| 21 | -51.00% | $0.00 |
| 22 | -41.00% | $0.00 |
| 23 | -54.00% | $0.00 |
| 24 | -41.00% | $0.00 |
| 25 | -44.00% | $0.00 |
| 26 | -53.00% | $0.00 |
| 27 | -41.00% | $0.00 |
| 28 | -43.00% | $0.00 |
| 29 | -44.00% | $0.00 |
| 30 | -44.00% | $0.00 |
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 5
| Monthly Valuation Date | Reference Index Return | Coupon Payment |
|---|---|---|
| 31 | -55.00% | $0.00 |
| 32 | -44.00% | $0.00 |
| 33 | -54.00% | $0.00 |
| 34 | -43.00% | $0.00 |
| 35 | -41.00% | $0.00 |
| 36 | -45.00% | $0.00 |
| 37 | -53.00% | $0.00 |
| 38 | -47.00% | $0.00 |
| 39 | -49.00% | $0.00 |
| 40 | -44.00% | $0.00 |
| 41 | -50.00% | $0.00 |
| 42 | -13.00% | $0.59 |
| 43 | -22.00% | $0.59 |
| 44 | -21.00% | $0.59 |
| 45 | -6.00% | $0.59 |
| 46 | -35.00% | $0.59 |
| 47 | -25.00% | $0.59 |
| 48 | -12.00% | $0.59 |
| 49 | -26.00% | $0.59 |
| 50 | -10.00% | $0.59 |
| 51 | 3.00% | $0.59 |
| 52 | -27.00% | $0.59 |
| 53 | -27.00% | $0.59 |
| 54 | -21.00% | $0.59 |
| 55 | -8.00% | $0.59 |
| 56 | 1.00% | $0.59 |
| 57 | -13.00% | $0.59 |
| 58 | -36.00% | $0.59 |
| 59 | -33.00% | $0.59 |
| 60 | -39.00% | $0.59 |
| 61 | -6.00% | $0.59 |
| 62 | 4.00% | $0.59 |
| 63 | 3.00% | $0.59 |
| 64 | -20.00% | $0.59 |
| 65 | 1.00% | $0.59 |
| 66 | -19.00% | $0.59 |
| 67 | -37.00% | $0.59 |
| 68 | -15.00% | $0.59 |
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 6
| Monthly Valuation Date | Reference Index Return | Coupon Payment |
|---|---|---|
| 69 | -34.00% | $0.59 |
| 70 | -29.00% | $0.59 |
| 71 | -33.00% | $0.59 |
| 72 | -26.00% | $0.59 |
| 73 | -28.00% | $0.59 |
| 74 | -24.00% | $0.59 |
| 75 | 4.00% | $0.59 |
| 76 | -14.00% | $0.59 |
| 77 | 0.00% | $0.59 |
| 78 | -17.00% | $0.59 |
| 79 | -23.00% | $0.59 |
| 80 | -17.00% | $0.59 |
| 81 | 1.00% | $0.59 |
| 82 | -7.00% | $0.59 |
| 83 | -21.00% | $0.59 |
| 84 | -17.00% | $0.59 |
Total Coupon Payments: $25.37
Variable Amount: $0.00
Maturity Amount: $100.00
Annual Compounded Return: 3.28%
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 7
Hypothetical Scenario #3 with Coupon Payments payable on sixty Coupon Payment Dates and the Notes are called prior to maturity
In this hypothetical scenario, the Reference Index Return was greater than or equal to 5.00% on the 60th Valuation Date and the Reference Index Return was greater than or equal to -40.00% on sixty Valuation Dates. Accordingly, the Notes were automatically called by CIBC on the related Call Date following the 60th Valuation Date and Investors would be entitled to receive Coupon Payments on sixty Coupon Payment Dates (aggregate Coupon Payments of $35.40 over the term of the Notes). Since the Reference Index Return on the 60th Valuation Date was greater than or equal to 5.00%, the Notes will be called prior to maturity and the Variable Amount will be equal to $0.00 per Note, calculated as the product of $100.00 x 0.00%. In this example the total cumulative return is 35.40% (which is equal to an annual compounded return of 6.25%).
| Monthly Valuation Date | Reference Index Return | Coupon Payment |
|---|---|---|
| 1 | -35.00% | $0.59 |
| 2 | -29.00% | $0.59 |
| 3 | -22.00% | $0.59 |
| 4 | -34.00% | $0.59 |
| 5 | -15.00% | $0.59 |
| 6 | -19.00% | $0.59 |
| 7 | -11.00% | $0.59 |
| 8 | -8.00% | $0.59 |
| 9 | 3.00% | $0.59 |
| 10 | -12.00% | $0.59 |
| 11 | -29.00% | $0.59 |
| 12 | -10.00% | $0.59 |
| 13 | -27.00% | $0.59 |
| 14 | -34.00% | $0.59 |
| 15 | -21.00% | $0.59 |
| 16 | -23.00% | $0.59 |
| 17 | -36.00% | $0.59 |
| 18 | -21.00% | $0.59 |
| 19 | -13.00% | $0.59 |
| 20 | -12.00% | $0.59 |
| 21 | -8.00% | $0.59 |
| 22 | -25.00% | $0.59 |
| 23 | -36.00% | $0.59 |
| 24 | -4.00% | $0.59 |
| 25 | -13.00% | $0.59 |
| 26 | -34.00% | $0.59 |
| 27 | -39.00% | $0.59 |
| 28 | -37.00% | $0.59 |
| 29 | -26.00% | $0.59 |
| 30 | 2.00% | $0.59 |
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 8
| Monthly Valuation Date | Reference Index Return | Coupon Payment |
|---|---|---|
| 31 | -18.00% | $0.59 |
| 32 | -27.00% | $0.59 |
| 33 | -34.00% | $0.59 |
| 34 | -35.00% | $0.59 |
| 35 | -25.00% | $0.59 |
| 36 | -14.00% | $0.59 |
| 37 | -17.00% | $0.59 |
| 38 | -32.00% | $0.59 |
| 39 | -17.00% | $0.59 |
| 40 | -13.00% | $0.59 |
| 41 | -7.00% | $0.59 |
| 42 | -25.00% | $0.59 |
| 43 | -10.00% | $0.59 |
| 44 | -34.00% | $0.59 |
| 45 | -21.00% | $0.59 |
| 46 | -7.00% | $0.59 |
| 47 | 3.00% | $0.59 |
| 48 | -16.00% | $0.59 |
| 49 | 0.00% | $0.59 |
| 50 | -13.00% | $0.59 |
| 51 | 4.00% | $0.59 |
| 52 | -20.00% | $0.59 |
| 53 | -26.00% | $0.59 |
| 54 | -5.00% | $0.59 |
| 55 | -18.00% | $0.59 |
| 56 | -31.00% | $0.59 |
| 57 | -27.00% | $0.59 |
| 58 | -25.00% | $0.59 |
| 59 | -9.00% | $0.59 |
| 60 | 6.00% | $0.59 |
Total Coupon Payments: $35.40
Variable Amount: $0.00
Maturity Amount: $100.00
Annual Compounded Return: 6.25%
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 9
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 Solactive Equal Weight Canada Bank 30 AR Index. The Solactive Equal Weight Canada Bank 30 AR Index is an adjusted return index that aims to track the gross total return performance of the Solactive Equal Weight Canada Banks Index, subject to a reduction of a synthetic dividend of 30 index points per annum calculated daily in arrears on a 360 day basis at the time the Reference Index is calculated. The Closing Level of the Reference Index on April 2, 2026 was 730.98. The Adjusted Return Factor divided by the level of the Reference Index was therefore equal to 4.10% on April 2, 2026. Over the term of the Notes, the sum of the Adjusted Return Factor of 30 points per annum will be approximately 210 index points, representing 28.73% of the level of the Reference Index on April 2, 2026. The Target Index is a gross total return index that reflects the applicable price changes of its constituent securities and any dividends and distributions paid in respect of such securities. For the calculation of the level of the Target Index, any dividends or other distributions paid on the constituent securities of the Target Index are assumed to be reinvested across all the constituent securities of the Target Index. There is no assurance of the ability of issuers of the securities comprising the Target Index to declare and pay dividends or make distributions in respect of the constituent securities of the Target Index or to sustain or increase such dividends and distributions at or above historical levels.
Issue Date
April 23, 2026
Maturity Date / Term
April 25, 2033 (7 years), provided that if such date is not a Business Day then the Maturity Date will be the immediately following Business Day, subject to the Notes being automatically called by CIBC on any Call Date and subject to the occurrence of a Market Disruption Event.
Coupon Payment Dates, Valuation Dates and Call Dates
Based on an Issue Date of April 23, 2026, the Coupon Payment Dates, Valuation Dates and Call Dates are as follows:
| Valuation Dates | Coupon Payment Dates | Call Dates |
|---|---|---|
| May 15, 2026 | May 25, 2026 | - |
| June 15, 2026 | June 23, 2026 | - |
| July 16, 2026 | July 23, 2026 | July 23, 2026 |
| August 17, 2026 | August 24, 2026 | August 24, 2026 |
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 10
| Valuation Dates | Coupon Payment Dates | Call Dates |
|---|---|---|
| September 16, 2026 | September 23, 2026 | September 23, 2026 |
| October 16, 2026 | October 23, 2026 | October 23, 2026 |
| November 16, 2026 | November 23, 2026 | November 23, 2026 |
| December 16, 2026 | December 23, 2026 | December 23, 2026 |
| January 15, 2027 | January 25, 2027 | January 25, 2027 |
| February 16, 2027 | February 23, 2027 | February 23, 2027 |
| March 16, 2027 | March 23, 2027 | March 23, 2027 |
| April 16, 2027 | April 23, 2027 | April 23, 2027 |
| May 17, 2027 | May 25, 2027 | May 25, 2027 |
| June 15, 2027 | June 23, 2027 | June 23, 2027 |
| July 16, 2027 | July 23, 2027 | July 23, 2027 |
| August 16, 2027 | August 23, 2027 | August 23, 2027 |
| September 16, 2027 | September 23, 2027 | September 23, 2027 |
| October 18, 2027 | October 25, 2027 | October 25, 2027 |
| November 16, 2027 | November 23, 2027 | November 23, 2027 |
| December 16, 2027 | December 23, 2027 | December 23, 2027 |
| January 14, 2028 | January 24, 2028 | January 24, 2028 |
| February 15, 2028 | February 23, 2028 | February 23, 2028 |
| March 16, 2028 | March 23, 2028 | March 23, 2028 |
| April 17, 2028 | April 24, 2028 | April 24, 2028 |
| May 15, 2028 | May 23, 2028 | May 23, 2028 |
| June 15, 2028 | June 23, 2028 | June 23, 2028 |
| July 17, 2028 | July 24, 2028 | July 24, 2028 |
| August 16, 2028 | August 23, 2028 | August 23, 2028 |
| September 18, 2028 | September 25, 2028 | September 25, 2028 |
| October 16, 2028 | October 23, 2028 | October 23, 2028 |
| November 16, 2028 | November 23, 2028 | November 23, 2028 |
| December 18, 2028 | December 27, 2028 | December 27, 2028 |
| January 16, 2029 | January 23, 2029 | January 23, 2029 |
| February 15, 2029 | February 23, 2029 | February 23, 2029 |
| March 16, 2029 | March 23, 2029 | March 23, 2029 |
| April 16, 2029 | April 23, 2029 | April 23, 2029 |
| May 15, 2029 | May 23, 2029 | May 23, 2029 |
| June 15, 2029 | June 25, 2029 | June 25, 2029 |
| July 16, 2029 | July 23, 2029 | July 23, 2029 |
| August 16, 2029 | August 23, 2029 | August 23, 2029 |
| September 17, 2029 | September 24, 2029 | September 24, 2029 |
| October 16, 2029 | October 23, 2029 | October 23, 2029 |
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 11
| Valuation Dates | Coupon Payment Dates | Call Dates |
|---|---|---|
| November 15, 2029 | November 23, 2029 | November 23, 2029 |
| December 17, 2029 | December 24, 2029 | December 24, 2029 |
| January 15, 2030 | January 23, 2030 | January 23, 2030 |
| February 15, 2030 | February 25, 2030 | February 25, 2030 |
| March 18, 2030 | March 25, 2030 | March 25, 2030 |
| April 15, 2030 | April 23, 2030 | April 23, 2030 |
| May 15, 2030 | May 23, 2030 | May 23, 2030 |
| June 14, 2030 | June 24, 2030 | June 24, 2030 |
| July 16, 2030 | July 23, 2030 | July 23, 2030 |
| August 16, 2030 | August 23, 2030 | August 23, 2030 |
| September 16, 2030 | September 23, 2030 | September 23, 2030 |
| October 16, 2030 | October 23, 2030 | October 23, 2030 |
| November 18, 2030 | November 25, 2030 | November 25, 2030 |
| December 16, 2030 | December 23, 2030 | December 23, 2030 |
| January 15, 2031 | January 23, 2031 | January 23, 2031 |
| February 14, 2031 | February 24, 2031 | February 24, 2031 |
| March 17, 2031 | March 24, 2031 | March 24, 2031 |
| April 16, 2031 | April 23, 2031 | April 23, 2031 |
| May 15, 2031 | May 23, 2031 | May 23, 2031 |
| June 13, 2031 | June 23, 2031 | June 23, 2031 |
| July 16, 2031 | July 23, 2031 | July 23, 2031 |
| August 18, 2031 | August 25, 2031 | August 25, 2031 |
| September 16, 2031 | September 23, 2031 | September 23, 2031 |
| October 16, 2031 | October 23, 2031 | October 23, 2031 |
| November 17, 2031 | November 24, 2031 | November 24, 2031 |
| December 16, 2031 | December 23, 2031 | December 23, 2031 |
| January 15, 2032 | January 23, 2032 | January 23, 2032 |
| February 13, 2032 | February 23, 2032 | February 23, 2032 |
| March 16, 2032 | March 23, 2032 | March 23, 2032 |
| April 16, 2032 | April 23, 2032 | April 23, 2032 |
| May 17, 2032 | May 25, 2032 | May 25, 2032 |
| June 15, 2032 | June 23, 2032 | June 23, 2032 |
| July 16, 2032 | July 23, 2032 | July 23, 2032 |
| August 16, 2032 | August 23, 2032 | August 23, 2032 |
| September 16, 2032 | September 23, 2032 | September 23, 2032 |
| October 18, 2032 | October 25, 2032 | October 25, 2032 |
| November 16, 2032 | November 23, 2032 | November 23, 2032 |
| December 16, 2032 | December 23, 2032 | December 23, 2032 |
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 12
| Valuation Dates | Coupon Payment Dates | Call Dates |
|---|---|---|
| January 14, 2033 | January 24, 2033 | January 24, 2033 |
| February 15, 2033 | February 23, 2033 | February 23, 2033 |
| March 16, 2033 | March 23, 2033 | March 23, 2033 |
| April 18, 2033 | April 25, 2033 | - |
Provided that (i) if any such Coupon Payment Date is not a Business Day, then the Coupon Payment Date will be the next Business Day, subject to the occurrence of a Market Disruption Event; (ii) if the Issue Date is postponed, each Call Date will be postponed by an equivalent number of days, and provided further that if any such Call Date is not both a Business Day and at least five Business Days following the applicable Valuation Date, the applicable Call Date will be postponed until the next Business Day that is at least five Business Days following the immediately preceding Valuation Date, in each case subject to the occurrence of a Market Disruption Event; and (iii) if any such Valuation Date is not an Exchange Day, then the applicable Valuation Date will be the immediately following Exchange Day, subject to the occurrence of a Market Disruption Event.
Coupon Payments
On each monthly Coupon Payment Date during the term of the Notes, Investors will be eligible to receive a Coupon Payment equal to $0.59 per Note (the "Coupon Amount"). Coupon Payments will be determined as follows:
- if the Reference Index Return on the immediately preceding Valuation Date is greater than or equal to -40.00%, the Coupon Payment will equal the Coupon Amount; and
- if the Reference Index Return on the immediately preceding Valuation Date is less than -40.00%, the Coupon Payment will be $0.00 per Note.
The total Coupon Payments payable to Investors over the term of the Notes will not exceed $49.56 per Note (based on $0.59 per Note payable on each Coupon Payment Date). No Coupon Payments will be paid on a Coupon Payment Date if the Reference Index Return on the immediately preceding Valuation Date is less than -40.00% or if the Notes have been automatically called by CIBC on a preceding Call Date. There is no guarantee that any Coupon Payments will be paid during the term of the Notes.
Call Feature
The Notes will be automatically called by CIBC on a Call Date if the Reference Index Return on the Valuation Date immediately preceding such Call Date is greater than or equal to 5.00%.
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,
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 13
where:
- the "Index LevelVD" will be the Closing Level on the applicable 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 final Valuation Date and (b) the Maturity Date (the "Maturity Payment Date") (or on a Call Date, if the Notes are automatically called by CIBC prior to the Maturity Date) in respect of each Note held by such Investor, an amount (the "Maturity Amount") equal to the sum of (i) the Principal Amount and (ii) the Variable Amount, which will either be nil or negative, subject to a minimum Maturity Amount of $1.00 per Note.
Variable Amount
The Variable Amount for a Note is an amount equal to the product of $100.00 multiplied by the following:
- 0.00%, if the Reference Index Return is greater than or equal to -40.00% on the immediately preceding Valuation Date; or
- 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), if the Reference Index Return is less than -40.00% on the immediately preceding Valuation Date.
If the Notes are called by CIBC, Investors will not be entitled to receive any further return that they would have otherwise been entitled to receive if the Notes had not been called by CIBC.
Secondary Market and Early Trading Amount
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. Under no circumstances will CIBC WM provide a secondary market for the Notes on or following a Valuation Date for the Notes if the Notes will be called by CIBC on the applicable Call Date. 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 and will reflect the deduction of an early trading amount of 2.295% per Note initially, declining daily by 0.051% to 0.00% after 45 days. 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.
Registered Account Eligibility
RRSPs, RRIFs, RESPs, RDSPs, certain DPSPs, TFSAs and FHSAs.
CIBC Canada Banks Equal Weight Index (AR) Autocallable Coupon Notes, Series 285 | 14
Fundserv is a registered trademark of Fundserv Inc.
This document should be read in conjunction with the short form base shelf prospectus dated September 19, 2024 (the "Prospectus") and the CIBC Pricing Supplement No. 5,474 to the Prospectus dated April 10, 2026 (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. "Solactive" is a registered trademark of Solactive AG and has been licensed for use. Solactive AG makes no representation or warranty, express or implied, regarding the advisability of investing in securities generally or the Notes in particular. Neither Solactive AG nor any of its affiliates are involved in the operation or distribution of the Notes and neither Solactive AG nor its affiliates shall have any liability for operation or distribution of the Notes or the failure of the Notes to achieve their investment objective.
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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