Obligation Canadian Imperial Commerce Bank 2.35% ( US136069UT60 ) en USD

Canadian Imperial Commerce Bank

100 % ⇌

Canada

US136069UT60 ( en USD )

2.35% par an ( paiement semestriel )

26/07/2022 - Obligation échue

Prospectus brochure de l'obligation Canadian Imperial Bank of Commerce US136069UT60 en USD 2.35%, échue

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 USD, avec le code ISIN US136069UT60, paye un coupon de 2.35% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 26/07/2022

Final Terms dated July 21, 2017
CANADIAN IMPERIAL BANK OF COMMERCE
(a Canadian chartered bank)
Issue of USD 1,750,000,000 CBL17 2.350% Covered Bonds due July 27, 2022
under the
CAD 20,000,000,000
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 ANY
OTHER APPLICABLE U.S. STATE SECURITIES LAWS AND, ACCORDINGLY, THE COVERED
BONDS MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE
ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT THAT THE COVERED BONDS MAY BE
OFFERED OR SOLD TO QUALIFIED INSTITUTIONAL BUYERS IN RELIANCE UPON RULE 144A
UNDER THE SECURITIES ACT.
The Guarantor is not now, and immediately following the issuance of the Covered Bonds pursuant to the Trust Deed
will not be, a "covered fund" for purposes of regulations adopted under Section 13 of the U.S. Bank Holding
Company Act of 1956, as amended, commonly known as the "Volcker Rule." In reaching this conclusion, although
other statutory or regulatory exemptions under the U.S. Investment Company Act of 1940, as amended, and under
the Volcker Rule and its related regulations may be available, the Guarantor has relied on the exemption from
registration set forth in Section 3(c)(5)(C) of the U.S. Investment Company Act of 1940, as amended. See "Certain
Volcker Rule Considerations" in the Prospectus dated 20 June, 2017.
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 20 June, 2017 (the "Prospectus") for the purposes of Directive 2003/71/EC, as
amended, including by Directive 2010/73/EU and includes any relevant implementing measures in a Relevant
Member State (the "Prospectus Directive"). This document constitutes the Final Terms of the Covered Bonds
described herein for the purposes of Article 5.4 of the Prospectus Directive as implemented in the United Kingdom
and must be read in conjunction with such Prospectus. Full information on the Issuer and the offer of the Covered
Bonds is only available on the basis of the combination of these Final Terms and the Prospectus. The Prospectus,
together with these Final Terms and all documents incorporated by reference therein, is available for viewing on the
website
of
the
Regulatory
News
Service
operated
by
the
London
Stock
Exchange
at
http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html
under
the
name
Canadian Imperial Bank of Commerce and the headline "Publication of Prospectus" and copies may be obtained
from the specified offices of the Issuer and the Issuing and Paying Agent, as set out at the end of the Prospectus.
MT DOCS 16842413

1.
(i)
Issuer:
Canadian Imperial Bank of Commerce
(ii)
Branch:
Head office of the Bank in Toronto
(iii) Guarantor:
CIBC
Covered
Bond
(Legislative)
Guarantor
Limited
Partnership
2.
(i)
Series Number:
CBL17
(ii)
Tranche Number:
1
(iii) Date on which the Covered Bonds
Not Applicable
become fungible:
3.
Specified Currency or Currencies:
U.S. Dollar (USD)
(Condition 1.10)
4.
Aggregate Principal Amount:
(i)
Series:
USD 1,750,000,000
(ii)
Tranche:
USD 1,750,000,000
5.
Issue Price:
99.916% of the Aggregate Principal Amount
6.
(i)
Specified Denominations:
Minimum denomination of USD 200,000 and integral
multiples of USD 1,000 in excess thereof
(Condition 1.08 or 1.09)
(ii)
Calculation Amount:
USD 1,000
7.
(i)
Issue Date:
July 27, 2017
(ii)
Interest Commencement Date:
Issue Date
8.
(i)
Final Maturity Date:
July 27, 2022
(ii)
Extended Due for Payment Date of
July 27, 2023
Guaranteed Amounts corresponding
to the Final Redemption Amount
under the Covered Bond Guarantee:
9.
Interest Basis:
2.350 per cent. per annum Fixed Rate from (and including) the
Interest Commencement Date to (but excluding) the Final
Maturity Date
If applicable in accordance with Paragraph 15 below, 1-month
USD LIBOR + 0.55313 per cent. per annum Floating Rate
from (and including) the Final Maturity Date to (but
excluding) the Extended Due for Payment Date, subject to a
minimum interest rate of 0.00 per cent.
MT DOCS 16842413

(further particulars specified in item 15 below)
10.
Redemption/Payment Basis:
Redemption at par
11.
Change of Interest Basis:
Applicable see item 9 above
12.
Put/Call Options:
Not Applicable
13.
Date of Board approval for issuance of
Not Applicable
Covered Bonds obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14.
Fixed Rate Covered Bond Provisions:
Applicable from (and including) the Interest Commencement
Date to (but excluding) the Final Maturity Date
(Condition 5.02)
(i)
Rate of Interest:
2.350% per cent. per annum payable semi-annually in arrears
on each Interest Payment Date
(ii)
Interest Payment Dates:
January 27 and July 27 in each year not adjusted up to and
including the Final Maturity Date
(iii) Business Day Convention:
Not Applicable
(iv) Fixed Coupon Amount:
USD 11.75 per Calculation Amount
(v)
Broken Amount(s)
Not Applicable
(vi) Day Count Fraction:
30/360
(vii) Determination Dates:
January 27 and July 27 in each year
15.
Floating Rate Covered Bond Provisions:
Applicable from (and including) the Final Maturity Date to
but excluding the Extended Due for Payment Date to the
extent payment of the Final Redemption Amount is deferred
until the Extended Due for Payment Date in accordance with
Condition 6.01.
(Condition 5.03)
(i)
Interest Period(s):
The first Interest Period shall comprise the period from (and
including) the Final Maturity Date to (but excluding) the first
Specified Interest Payment Date. The Interest Periods shall,
thereafter, be the period from (and including) each Specified
Interest Payment Date to (but excluding) the next following
Specified Interest Payment Date
(ii)
Specified Interest Payment Dates:
The Specified Interest Payment Date shall be monthly on or
nearest to the 27th calendar day of each month from but
excluding the Final Maturity Date to and including the
Extended Due for Payment Date, subject, in each case, to
adjustment in accordance with the Business Day Convention
MT DOCS 16842413

specified in paragraph 15(iii) below
(iii) Business Day Convention:
Modified Following Business Day Convention
(iv) Financial Centres:
New York, London, Toronto
(v)
Manner in which the Rate(s) of
Screen Rate Determination
Interest is/are to be determined:
(vi) Party responsible for calculating the
Not Applicable
Rate(s)
of
Interest
and
Interest
Amount(s) (if not the [Agent]):
(vii) Screen Rate Determination:
Reference Rate:
1 month USD LIBOR
Interest Determination Date(s)
Second London Banking Day prior to the start of each Interest
Period
Relevant Screen Page
Reuters Screen Page LIBOR01
Relevant Time:
11:00 a.m. (London)
Reference Banks:
Has the meaning given in the ISDA definitions, mutatis
mutandis
(viii) ISDA Determination:
Not Applicable
(ix) Margin(s):
+ 0.55313 per cent. per annum
(x)
Linear Interpolation:
Not Applicable
(Condition 5.10)
(xi) Minimum Interest Rate:
0.00 per cent. per annum
(Condition 5.05)
(xii) Maximum Interest Rate:
Not Applicable
(Condition 5.05)
(xiii) Day Count Fraction:
Actual/360
16.
Zero Coupon Covered Bond Provisions:
Not Applicable
(Condition 5.11)
PROVISIONS RELATING TO REDEMPTION
17.
Call Option:
Not Applicable
(Condition 6.03)
18.
Put Option:
Not Applicable
(Condition 6.06)
MT DOCS 16842413

19.
Final Redemption Amount of each
USD 1,000 per Calculation Amount
Covered Bond
20.
Early Redemption Amount:
Early Redemption Amount(s) payable on
USD 1,000 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)
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
21.
Form of the Covered Bonds:
Registered Bonds:
Regulation S Global Covered Bond registered in the name of a
nominee for DTC and exchangeable only after an Exchange
Event
Rule 144A Global Covered Bond registered in the name of a
nominee for DTC and exchangeable only after an Exchange
Event
22.
New Global Covered Bond:
No
23.
Financial Centre(s) or other special
New York, London, Toronto
provisions relating to payment dates:
24.
Talons for future Coupons or Receipts to
No
be attached to Definitive Covered Bonds
(and dates on which such Talons mature):
(Condition 1.06)
25.
Details relating to Instalment Covered
(i)
Instalment Amount(s): Not Applicable
Bonds: amount of each instalment, date on
which each payment is to be made:
(ii)
Instalment Date(s): Not Applicable
(Condition 6.12)
THIRD PARTY INFORMATION
Not Applicable.
[The remainder of this page is intentionally left blank.]
MT DOCS 16842413

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
By:
"Darren Shaughnessy"
By:
"Darren Shaughnessy"
Duly authorized
Duly authorized
MT DOCS 16842413

PART B OTHER INFORMATION
1.
LISTING
(i)
Listing/Admission to trading:
Application is expected to be made by the Issuer (or on its
behalf) for the Covered Bonds to be admitted to the Official
List of the UKLA and to trading on the London Stock
Exchange's Market with effect from July 27, 2017
(ii)
Estimate of total expenses related to
£3,650
admission to trading:
2.
RATINGS
The Covered Bonds to be issued have been 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. The Managers/Dealers and their affiliates have
engaged, and may in future engage, in investment banking and/or commercial banking transactions with, and
may perform services for, the Issuer and the Guarantor and their affiliates.
4.
FIXED RATE COVERED BONDS ONLY YIELD
Indication of yield based on the Issue
2.368 per cent. per annum
Price:
The yield is calculated at the Issue Date on the basis of the
Issue Price. It is not an indication of future yield
5.
DISTRIBUTION
(i)
US Selling Restrictions:
Regulation S compliance Category 2; TEFRA rules not
applicable; Rule 144A eligible
(ii)
Additional Selling Restrictions:
Covered Bonds may only be offered, sold or distributed by the
Managers on such basis and in such provinces of Canada as, in
each case, are agreed with the Issuer and in compliance with
any applicable securities laws of Canada or any province, to
the extent applicable
(iii) Prohibition of Sales to EEA Retail
Not Applicable
Investors
6.
OPERATIONAL INFORMATION
(i)
ISIN Code:
Reg S: USC2428PBK69
MT DOCS 16842413

144A: US136069UT60
(ii)
Common Code:
Reg S: 165374576
144A: 165374479
(iii) CUSIP:
Reg S: C2428P BK6
144A: 136069 UT6
(iv) Any clearing system(s) other than
Not Applicable
Euroclear
Bank
S.A./N.V.,
Clearstream
Banking
Société
Anonyme,
DTC,
or
CDS
their
addresses
and
the
relevant
identification number(s):
(v)
Delivery:
Delivery free of payment
(vi) Name and address of initial Paying
U.S. Registrar, Transfer Agent and U.S. Exchange Agent:
Agent, Registrars, Exchange Agents
and Transfer Agents:
HSBC Bank USA, National Association
452 Fifth Avenue, 3rd Floor
New York, New York
10018-2706
(vii) Name(s) and address(es) of additional
Issuing and Paying Agent, European Registrar, Transfer
or
substitute Paying
Agent(s)
or
Agent, Calculation Agent and European Exchange Agent:
Transfer Agent(s):
HSBC Bank plc
8 Canada Square
London E14 5HQ
7.
UNITED STATES TAX CONSIDERATIONS
For U.S. federal income tax purposes, the Issuer intends to treat the Covered Bonds as fixed-rate debt.
MT DOCS 16842413