Obligation Canadian Imperial Commerce Bank 0.1% ( CH0537261874 ) en CHF

Canadian Imperial Commerce Bank

100 % ▲

Canada

CH0537261874 ( en CHF )

0.1% par an ( paiement annuel )

23/10/2023 - Obligation échue

Prospectus brochure de l'obligation Canadian Imperial Bank of Commerce CH0537261874 en CHF 0.1%, échue

5 000 CHF

580 000 000 CHF

La Banque Canadienne Impériale de Commerce (CIBC) est une grande banque multinationale canadienne offrant une gamme complète de services bancaires aux particuliers, aux entreprises et aux marchés institutionnels, au Canada et à l?international.

L'Obligation émise par Canadian Imperial Commerce Bank ( Canada ) , en CHF, avec le code ISIN CH0537261874, paye un coupon de 0.1% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 23/10/2023

Final Terms dated April 22, 2020
CANADIAN IMPERIAL BANK OF COMMERCE
(a Canadian chartered bank)
through its Head office of the Bank in Toronto
Legal Entity Identifier (LEI): 2IGI19DL77OX0HC3ZE78
Issue of CHF 580,000,000 0.100 per cent. Covered Bonds due October 24, 2023
under the
CAD 60,000,000,000
Global Covered Bond Programme
unconditionally and irrevocably guaranteed as to payments by
CIBC COVERED BOND (LEGISLATIVE) GUARANTOR LIMITED PARTNERSHIP
(a limited partnership formed under the laws of Ontario)
THE COVERED BONDS HAVE NOT BEEN APPROVED OR DISAPPROVED BY CANADA MORTGAGE
AND HOUSING CORPORATION ("CMHC") NOR HAS CMHC PASSED UPON THE ACCURACY OR
ADEQUACY OF THESE FINAL TERMS. THE COVERED BONDS ARE NOT INSURED OR GUARANTEED
BY CMHC OR THE GOVERNMENT OF CANADA OR ANY OTHER AGENCY THEREOF.
THE COVERED BONDS DESCRIBED IN THESE FINAL TERMS HAVE NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") OR THE SECURITIES
LAWS OR "BLUE SKY" LAWS OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES
AND, ACCORDINGLY, THE COVERED BONDS MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS.
No prospectus is required in accordance with Directive 2003/71/EC, as amended or superseded, and includes any
relevant implementing measures in a Relevant Member State (the "Prospectus Directive") for this issue of Covered
Bonds. The Covered Bonds which are the subject of these final terms are not compliant with the Prospectus
Directive and the Luxembourg Stock Exchange has neither approved nor reviewed the information contained in
these final terms.
PART A--CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the "Conditions") set
forth in the Prospectus dated June 18, 2019 as supplemented by (i) the 1st combined supplementary prospectus dated
August 23, 2019, (ii) the 2nd combined supplementary prospectus dated December 6, 2019 (iii) the 3rd combined
supplementary prospectus dated March 9, 2020 and (iv) the 4th combined supplementary prospectus dated April 17,
2020 (collectively, the "Prospectus") which is incorporated in the Swiss prospectus dated April 22, 2020 (the
"Swiss Prospectus"). This document constitutes the Final Terms of the Covered Bonds described herein and must
be read in conjunction with the Prospectus and the Swiss Prospectus. Full information on the Issuer, the Guarantor
and the offer of the Covered Bonds is only available on the basis of the combination of these Final Terms, the
Prospectus and the Swiss Prospectus. Copies of the Swiss Prospectus, together with all documents incorporated by
reference therein may be obtained from the specified offices or address, respectively of the Issuer and Credit Suisse
AG, Uetlibergstrasse 231, CH-8070 Zurich, Switzerland, E-Mail: [email protected], as set
out at the end of these Final Terms.
1.
(i)
Series Number:

CBL29
(ii)
Tranche Number:

1
MT DOCS 20280154

- 2 -
(iii) Date on which the Covered Bonds
Not Applicable
become fungible:
2.
Specified Currency or Currencies:

Swiss Francs (CHF)
(Condition 1.10)
3.
Aggregate Principal Amount:

CHF 580,000,000
(i)
Series:

CHF 580,000,000
(ii)
Tranche:

CHF 580,000,000
4.
Issue Price:

100.026 per cent. of the Aggregate Principal Amount
5.
(i)
Specified Denominations:

CHF 5,000
(Condition 1.08 or 1.09)
(ii)
Calculation Amount:

CHF 5,000
6.
(i)
Issue Date:

April 24, 2020
(ii)
Interest Commencement Date:

Issue Date
7.
(i)
Final Maturity Date:

October 24, 2023
(ii)
Extended Due for Payment Date of
The Interest Payment Date falling in or nearest to October 24,
Guaranteed Amounts corresponding
2024
to the Final Redemption Amount
under the Covered Bond Guarantee:
8.
Interest Basis:

0.100 per cent. per annum Fixed Rate from (and including)
the Interest Commencement Date to (but excluding) the Final
Maturity Date
0.100 per cent. per annum Fixed Rate from (and including)
the Final Maturity Date to (but excluding) the Extended Due
for Payment Date
9.
Redemption/Payment Basis:

Redemption at par
10.
Change of Interest Basis:
Not Applicable
11.
Put/Call Options:
Not Applicable
12.
Date of Board approval for issuance of
Not Applicable
Covered Bonds obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
13.
Fixed Rate Covered Bond Provisions:

Applicable from (and including) the Interest Commencement
Date to (but excluding) the Extended Due for Payment Date
(Condition 5.02)
(i)
Rate(s) of Interest:

0.100 per cent. per annum payable annually in arrears on
during the period from (and including) the Interest
Commencement Date to (but excluding) the Final Maturity
Date
MT DOCS 20280154

- 3 -
If applicable, 0.100 per cent. per annum payable monthly in
arrears during the period from (and including) the Final
Maturity Date to (but excluding) the Extended Due for
Payment Date
(ii)
Interest Payment Date(s):

October 24th in each year adjusted in accordance with the
Business Day Convention up to and including the Final
Maturity Date, commencing October 24, 2020
If applicable, the 24th day of each month adjusted in
accordance with the Business Day Convention from (but
excluding) the Final Maturity Date to (and including) the
earlier of (i) the date on which the covered bonds are
redeemed in full and (ii) the Extended Due for Payment Date
(iii) Business Day Convention:

Following Business Day Convention
(iv) Fixed Coupon Amount(s):

CHF 5.00 per Calculation Amount, except in respect of the
short first coupon specified in 13(v) below
(v)
Broken Amount(s)

CHF 2.50 per Calculation Amount (short first coupon)
payable on the Interest Payment Date falling on or nearest to
October 24, 2020
(vi) Day Count Fraction:

30/360
(vii) Determination Dates:

October 24th in each year
14.
Floating Rate Covered Bond Provisions:
Not Applicable
(Condition 5.03)
15.
Zero Coupon Covered Bond Provisions:
Not Applicable
(Condition 5.11)
PROVISIONS RELATING TO REDEMPTION
16.
Call Option
Not Applicable
(Condition 6.03)
17.
Put Option
Not Applicable
(Condition 6.06)
18.
Final Redemption Amount of each
CHF 5,000 per Calculation Amount
Covered Bond
19.
Early Redemption Amount:
Early Redemption Amount(s) payable on
CHF 5,000 per Calculation Amount
redemption for taxation reasons or
illegality or upon acceleration following an
Issuer Event of Default or Guarantor Event
of Default and/or the method of calculating
the same:
(Conditions 6.02, 6.13 or 7)
MT DOCS 20280154

- 4 -
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
20.
Form of the Covered Bonds:
Bearer Covered Bonds:
The Covered Bonds and all rights in connection therewith are
documented in the form of a Global Covered Bond which
shall be deposited with SIX SIS Ltd. or any other
intermediary in Switzerland recognised for such purposes by
the SIX Swiss Exchange Ltd (SIX SIS Ltd or any such other
intermediary, the "Intermediary"). Once the Global Covered
Bond has been deposited with the Intermediary and entered
into the accounts of one or more participants of the
Intermediary,
the
Covered
Bonds
will
constitute
intermediated securities (Bucheffekten) ("Intermediated
Securities") in accordance with the provisions of the Swiss
Federal Intermediated Securities Act (Bucheffektengesetz).
Each holder of the Covered Bonds shall have a quotal co-
ownership interest (Miteigentumsanteil) in the Global
Covered Bond to the extent of the holder's claim against the
Issuer, provided that for so long as the Global Covered Bond
remains deposited with the Intermediary the co-ownership
interest shall be suspended and the Covered Bonds may only
be transferred or otherwise disposed of in accordance with the
provisions of the Swiss Federal Intermediated Securities Act
(Bucheffektengesetz), i.e. by entry of the transferred Covered
Bonds in a securities account of the transferee.
The records of the Intermediary will determine the number of
Covered Bonds held through each participant in that
Intermediary. In respect of the Covered Bonds held in the
form of Intermediated Securities, the holders of the Covered
Bonds will be the persons holding the Covered Bonds in a
securities account.
Holders of the Covered Bonds do not have the right to effect
or demand the conversion of the Global Covered Bond into,
or the delivery of, uncertificated securities (Wertrechte) or
Definitive Covered Bonds (Wertpapiere).
The Global Covered Bond shall not be exchangeable in whole
or in part for definitive bearer Covered Bonds.
21.
New Global Covered Bond:
No
22.
Financial Centre(s) or other special
Zurich, London, New York, Toronto
provisions relating to payment dates:
23.
Talons for future Coupons or Receipts to
No
be attached to Definitive Covered Bonds
(and dates on which such Talons mature):
(Condition 1.06)
24.
Details relating to Instalment Covered
Not Applicable
Bonds: amount of each instalment, date
on which each payment is to be made:
(Condition 6.12)
MT DOCS 20280154

- 5 -
25.
Other final terms:
Applicable
For the purpose of this Series of Covered Bonds only, the
following paragraphs shall be added to Condition 9:
"The receipt by the Swiss Principal Paying Agent of the due
and punctual payment of funds in Swiss Francs in Zurich, in
the manner provided by the Conditions and these Final Terms,
shall release the Issuer from its obligations under the Covered
Bonds for the payment of interest and principal due on the
respective Interest Payment Date and Maturity Date to the
extent of such payment.
Condition 14 shall be replaced as follows:
So long as the Covered Bonds are listed on the SIX Swiss
Exchange and so long as the rules of the SIX Swiss Exchange
so require, notices must be published (i) on the internet
website
of
the
SIX
Swiss
Exchange
(currently
«https://www.six-exchange-
regulation.com/en/home/publications/official-notices.html»)
or (ii) otherwise in accordance with the regulations of the SIX
Swiss Exchange. Any notices so given will be deemed to have
been validly given on the date of such publication or if
published more than once, on the first date of such
publication.
THIRD PARTY INFORMATION
Not Applicable
MT DOCS 20280154

- 6 -
Signed on behalf of the Issuer:
Signed on behalf of the Managing GP for and on behalf
of the Guarantor:
By:
"Wojtek Niebrzydowski"

By:
"Wojtek Niebrzydowski"

Duly authorized

Duly authorized
MT DOCS 20280154
[CIBC CBL29 Final Terms]

- 7 -
PART B--OTHER INFORMATION
1.
LISTING
(i)
Listing/Admission to trading:
Application has been made by the Issuer (or on its behalf) for
the Covered Bonds to be provisionally admitted to the SIX
Swiss Exchange trading on standard for Bonds with effect
from April 22, 2020.
(ii)
Estimate of total expenses related to
CHF 12,800
admission to trading:
2.
RATINGS
The Covered Bonds are expected to be rated:
Moody's: Aaa
Fitch: AAA
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save as discussed in "Subscription and Sale", so far as the Issuer is aware, no person involved in the offer of
the Covered Bonds has an interest material to the offer
4.
FIXED RATE COVERED BONDS ONLY YIELD
Indication of yield based on the Issue
0.0925 per cent. per annum in respect of the fixed interest
Price:
rate payable on the Covered Bonds
5.
DISTRIBUTION
(i)
If syndicated, names of Managers:
Lead Manager:
Credit Suisse AG
(ii)
Stabilising Manager(s) (if any):
Not Applicable
(iii) US Selling Restrictions:
Regulation S compliance Category 2; Rule 144A not eligible
(iv) Additional Selling Restrictions:
The Covered Bonds may not be offered, sold or distributed,
directly or indirectly, in Canada or to or for the benefit of,
any resident in Canada.
(v)
Prohibition of Sales to EEA Retail
Not Applicable
Investors:
6.
OPERATIONAL INFORMATION
(i)
ISIN Code:
CH0537261874
(ii)
Common Code:
215117987
(iii) Any clearing system(s) other than
SIX SIS AG
Euroclear
Bank
S.A./N.V.,
Swiss Security Number: 53726187
Clearstream
Banking
Société
Anonyme or DTC, their addresses
and indirectly through:
and
the
relevant identification
Euroclear Bank S.A./N.V.
number(s):
Clearstream Banking, société anonyme
MT DOCS 20280154

- 8 -
(iv) Delivery:
Delivery against payment
(v)
Name(s) and address(es) of initial
Credit Suisse AG
Paying
Agent(s),
Registrars,
Uetlibergstrasse 231, CH-8070
Exchange Agent and
Transfer
Zurich, Switzerland
Agents:
(vi) Name(s) and address(es) of additional
Not Applicable
or substitute Paying Agent(s) or
Transfer Agent(s):
(vii) Intended to be held in a manner
No
which would allow Eurosystem
eligibility:
MT DOCS 20280154