Obligation CBIC 0.125% ( CH0305398254 ) en CHF

CBIC

100 % ▲

Canada

CH0305398254 ( en CHF )

0.125% par an ( paiement annuel )

22/12/2026

Prospectus brochure de l'obligation CIBC CH0305398254 en CHF 0.125%, échéance 22/12/2026

5 000 CHF

350 000 000 CHF

22/12/2025 ( Dans 112 jours )

La Banque CIBC (Canadian Imperial Bank of Commerce) est une grande banque commerciale canadienne offrant une gamme complète de services financiers, y compris des services bancaires aux particuliers et aux entreprises, des services de gestion de patrimoine et des services de marchés des capitaux.

L'Obligation émise par CBIC ( Canada ) , en CHF, avec le code ISIN CH0305398254, paye un coupon de 0.125% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 22/12/2026

Final Terms dated December 18, 2015
CANADIAN IMPERIAL BANK OF COMMERCE
(a Canadian chartered bank)
Issue of CHF 200,000,000 0.125 per cent. Covered Bonds due December 22, 2025
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.
No prospectus is required in accordance with Directive 2003/71/EC, as amended including by Directive 2010/73/EU
(the "Prospectus Directive", which term includes any relevant implementing measures in the United Kingdom) 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 UK Listing Authority 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 24 June 2015, as supplemented by (i) the 1st combined supplementary prospectus dated
27 August 2015 and (ii) the 2nd combined supplementary prospectus dated 4 December 2015 (collectively, the
"Prospectus") which is incorporated in the Swiss prospectus dated December 18, 2015 (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 UBS AG, Prospectus Library, P.O.
Box, 8098 Zürich, Switzerland, E-Mai: [email protected], as set out at the end of these Final Terms.
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:
CBL9
(ii) Tranche Number:
1
(iii) Date on which the Covered Bonds
Not Applicable
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become fungible:
3.
Specified Currency or Currencies:
Swiss Francs (CHF)
(Condition 1.10)
4.
Aggregate Principal Amount:
CHF 200,000,000
(i)
Series:
CHF 200,000,000
(ii) Tranche:
CHF 200,000,000
5.
Issue Price:
100.648 per cent. of the Aggregate Principal Amount
6.
(i)
Specified Denominations:
CHF 5,000
(Condition 1.08 or 1.09)
(ii) Calculation Amount:
CHF 5,000
7.
(i)
Issue Date:
December 22, 2015
(ii) Interest Commencement Date:
Issue Date
8.
(i)
Final Maturity Date:
December 22, 2025
(ii) Extended Due for Payment Date of
The Interest Payment Date falling in or nearest to December
Guaranteed Amounts corresponding
22, 2026
to the Final Redemption Amount
under the Covered Bond Guarantee:
9.
Interest Basis:
0.125 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
CHF LIBOR + 0.205 per cent. per annum Floating Rate,
payable monthly in arrear 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.
(further particulars specified 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:
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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(s) of Interest:
0.125 per cent. per annum payable annually in arrears on each
Interest Payment Date
(ii) Interest Payment Date(s):
December 22nd in each year adjusted in accordance with the
Business Day Convention up to and including the Final
Maturity Date, commencing December 22, 2016
(iii) Business Day Convention:
Following Business Day Convention
(iv) Fixed Coupon Amount(s):
CHF 6.25 per Calculation Amount
(v) Broken Amount(s)
Not Applicable
(vi) Day Count Fraction:
30/360
(vii) Determination Dates:
December 22nd 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
(Condition 5.03)
extent payment of the Final Redemption Amount is deferred
until the Extended Due for Payment Date in accordance with
Condition 6.01
(i)
Interest Period(s):
The first Interest Period shall comprise the period from (and
including) the Final Maturity Date to (but excluding) the First
Interest Payment Date; the Interest Periods shall, thereafter,
be the period from (and including) each Interest Payment
Date to (but excluding) the next following Interest Payment
Date, subject, in each case, to adjustment in accordance with
the Business Day Convention specified in (iii) below.
(ii) Specified Interest Payment Dates:
22nd day of each month from (and including) 22nd day of
January 2026 to (and including) the Extended Due for
Payment Date, subject, in each case, to adjustment in
accordance with the Business Day Convention specified in
(iii) below.
(iii) Business Day Convention:
Modified Following Business Day Convention
(iv) Financial Centre(s):
Zurich, 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:
Applicable
- Reference Rate:
1-month CHF LIBOR
- Interest Determination Date(s)
The second London Business Day prior to the start of each
Interest Period
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- Relevant Screen Page
Bloomberg BBAM, Official ICE Libor Fixings (Digital),
CHF rates (or any successor)
- Relevant Time:
11:00 a.m. London time
- Reference Banks:
As defined in the ISDA Definitions
(viii) ISDA Determination:
Not Applicable
(ix) Margin(s):
+ 0.0205 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)
19.
Final Redemption Amount of each
CHF 5,000 per Calculation Amount
Covered Bond
20.
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)
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
21.
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
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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
for definitive bearer Covered Bonds.
22.
New Global Covered Bond:
No
23.
Financial Centre(s) or other special
Zurich, 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
Not Applicable
Bonds: amount of each instalment, date
on which each payment is to be made:
(Condition 6.12)
26.
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
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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
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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 December 22, 2015.
(ii) Estimate of total expenses related to
CHF 9,000
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
0.06 per cent. per annum in respect of the fixed interest rate
Price:
payable on the Covered Bonds
5.
DISTRIBUTION
(i)
If syndicated, names of Managers:
Joint-Lead Managers:
UBS AG, Credit Suisse AG, CIBC World Markets plc
(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.
6.
OPERATIONAL INFORMATION
(i)
ISIN Code:
CH0305398254
(ii) Common Code:
133321896
(iii) Any clearing system(s) other than
SIX SIS AG
Euroclear
Bank
S.A./N.V.,
Swiss Security Number: 30539825
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
(iv) Delivery:
Delivery against payment
(v) Name(s) and address(es) of initial
UBS AG
Paying
Agent(s),
Registrars,
Bahnhofstrasse 45
Exchange
Agent
and
Transfer
8001 Zürich
Agents:
Switzerland
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(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:
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