Obligation CBIC 0.125% ( CH0449619029 ) en CHF

CBIC

100 % ⇌

Canada

CH0449619029 ( en CHF )

0.125% par an ( paiement annuel )

22/12/2026

Prospectus brochure de l'obligation CIBC CH0449619029 en CHF 0.125%, échéance 22/12/2026

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 CH0449619029, 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, 2018

CANADIAN IMPERIAL BANK OF COMMERCE

(a Canadian chartered bank)
Issue of CHF 150,000,000 0.125 per cent. Series CBL9 Tranche 2 Covered Bonds due 22 December, 2025 (the
"Covered Bonds")
(to be consolidated and form a single series with the CHF 200,000,000 Covered Bonds due 22 December, 2025
issued on 22 December, 2015 (the "Series CBL9 Tranche 1 Covered Bonds"),
bringing the total aggregate principal amount in respect of Series CBL9 to CHF 350,000,000)
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 24 June 2015, which are incorporated by reference in the prospectus dated 18 June
2018, as supplemented by (i) the 1st combined supplementary prospectus dated 24 August 2018 and (ii) the 2nd
combined supplementary prospectus dated 30 November 2018 (collectively, the "Prospectus") which is
incorporated in the Swiss prospectus dated 18 December 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 Credit Suisse AG, Uetlibergstrasse 231, CH-8070 Zurich,
Switzerland, E-Mail: [email protected].

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
MT DOCS 18602291

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2.
(i)
Series Number:

CBL9

(ii) Tranche Number:

2

(iii) Date on which the Covered Bonds

Upon the Issue Date, the Covered Bonds shall be consolidated
become fungible:
and form a single series with the Series CBL9 Tranche 1
Covered Bonds due 22 December, 2025 issued on 22
December, 2015
3.
Specified Currency or Currencies:

Swiss Francs (CHF)

(Condition 1.10)
4.
Aggregate Principal Amount:

CHF 350,000,000

(i)
Series:

CHF 350,000,000

(ii) Tranche:

CHF 150,000,000

5.
Issue Price:

99.944 per cent. of the Aggregate Principal Amount plus CHF
186,458.33 corresponding to accrued interest (in the
aggregate) for the period from (and including) the Interest
Commencement Date specified in paragraph 7(ii) below to
(but excluding) the Issue Date
6.
(i)
Specified Denominations:

CHF 5,000

(Condition 1.08 or 1.09)

(ii) Calculation Amount:

CHF 5,000

7.
(i)
Issue Date:

December 20, 2018

(ii) Interest Commencement Date:

December 22, 2017

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

MT DOCS 18602291

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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(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, 2018

(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):
MT DOCS 18602291

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(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

- 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):
+ 0.205 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:

MT DOCS 18602291

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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
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:
MT DOCS 18602291

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"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 18602291

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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 19, 2018.
The Covered Bonds will be consolidated and form a single
series with the Series CBL9 Tranche 1 Covered Bonds which
were admitted to the SIX Swiss Exchange Listing Authority
with effect from December 18, 2015.

(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
0.133 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:
Sole 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:
MT DOCS 18602291

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6. OPERATIONAL INFORMATION

(i)
ISIN Code:
CH0449619029 until consolidation with the Series CBL9
Tranche 1 Covered Bonds on the Issue Date and thereafter
CH0305398254

(ii) Common Code:
191945409 until consolidation with the Series CBL9
Tranche 1 Covered Bonds on the Issue Date and thereafter
133321896

(iii) Any clearing system(s) other than
SIX SIS AG

Euroclear
Bank
S.A./N.V.,
Swiss Security Number: 44961902 until consolidation with
Clearstream
Banking
Société
the Series CBL9 Tranche 1 Covered Bonds on the Issue Date
Anonyme or DTC, their addresses
and thereafter 30539825
and the
relevant identification

number(s):
and indirectly through:
Euroclear Bank S.A./N.V.
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

(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 18602291