Obligation CBIC 0.1% ( CH0413618346 ) en CHF

CBIC

99.63 % ▲

Canada

CH0413618346 ( en CHF )

0.1% par an ( paiement annuel )

29/04/2025 - Obligation échue

Prospectus brochure de l'obligation CIBC CH0413618346 en CHF 0.1%, échue

5 000 CHF

150 000 000 CHF

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 CH0413618346, paye un coupon de 0.1% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 29/04/2025

Final Terms dated April 26, 2018
CANADIAN IMPERIAL BANK OF COMMERCE
(a Canadian chartered bank)
Issue of CHF 150,000,000 0.100 per cent. Covered Bonds due April 30, 2025
under the
CAD 25,000,000,000
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) 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 20 June, 2017 as supplemented by (i) the 1st combined supplementary prospectus dated
24 August, 2017, (ii) the 2nd combined supplementary prospectus dated 1 December, 2017, (iii) the 1st covered bond
supplementary prospectus dated 22 December, 2017 and (iv) the 3rd combined supplementary prospectus dated 23
February 2018 (collectively, the "Prospectus") which is incorporated in the Swiss prospectus dated 26 April, 2018
(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,
Investment Bank, Swiss Prospectus Switzerland, P.O. Box, 8098 Zurich, Switzerland, E-Mail: swiss-
[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:
CBL20
MT DOCS 17793440

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(ii)
Tranche Number:
1
(iii) Date on which the Covered Bonds
Not Applicable
become fungible:
3.
Specified Currency or Currencies:
Swiss Francs (CHF)
(Condition 1.10)
4.
Aggregate Principal Amount:
CHF 150,000,000
(i)
Series:
CHF 150,000,000
(ii)
Tranche:
CHF 150,000,000
5.
Issue Price:
100.192 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:
April 30, 2018
(ii)
Interest Commencement Date:
Issue Date
8.
(i)
Final Maturity Date:
April 30, 2025
(ii)
Extended Due for Payment Date of
The Interest Payment Date falling in or nearest to April 30,
Guaranteed Amounts corresponding
2026
to the Final Redemption Amount
under the Covered Bond Guarantee:
9.
Interest Basis:
0.100 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 + 0.080 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:
MT DOCS 17793440

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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:
0.100 per cent. per annum payable annually in arrears on each
Interest Payment Date
(ii)
Interest Payment Date(s):
April 30th in each year adjusted in accordance with the
Business Day Convention up to and including the Final
Maturity Date, commencing April 30, 2019
(iii) Business Day Convention:
Following Business Day Convention
(iv) Fixed Coupon Amount(s):
CHF 5.00 per Calculation Amount
(v)
Broken Amount(s)
Not Applicable
(vi) Day Count Fraction:
30/360
(vii) Determination Dates:
April 30th 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:
30th day of each month from (and including) 30th day of May
2025 to (and including) the Extended Due for Payment Date,
provided that, for the month of February 2026, the Specified
Interest Payment Date shall be February 28, 2026 and 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
MT DOCS 17793440

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Interest Period
-
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):
+ 0.080 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
MT DOCS 17793440

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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.
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
MT DOCS 17793440

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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 17793440

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 17793440

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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 April 26, 2018.
(ii)
Estimate of total expenses related to
CHF 8,500
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
0.0725 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:
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.
(v)
Prohibition of Sales to EEA Retail
Not Applicable
Investors:
6.
OPERATIONAL INFORMATION
(i)
ISIN Code:
CH0413618346
(ii)
Common Code:
181084154
(iii) Any clearing system(s) other than
SIX SIS AG
Euroclear
Bank
S.A./N.V.,
Swiss Security Number: 41361834
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
MT DOCS 17793440

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Paying
Agent(s),
Registrars,
Bahnhofstrasse 45
Exchange
Agent
and
Transfer
8001 Zürich
Agents:
Switzerland
(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 17793440