Obligation CBIC 0.1412% ( CH0528881185 ) en CHF

CBIC

98.94 % ▲

Canada

CH0528881185 ( en CHF )

0.1412% par an ( paiement annuel )

08/10/2028

Prospectus brochure de l'obligation CIBC CH0528881185 en CHF 0.1412%, échéance 08/10/2028

09/10/2025 ( Dans 38 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 CH0528881185 émise par CIBC au Canada, affichant un prix actuel de marché de 98,13% de sa valeur nominale en CHF, offre un taux d'intérêt de 0,1412% avec une maturité fixée au 08/10/2028 et des paiements d'intérêts annuels.

Final Terms dated April 7, 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 100,000,000 0.1412 per cent. Covered Bonds due October 9, 2028
under the
CAD 30,000,000,000
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No prospectus is required in accordance with Directive 2003/71/EC, as amended or superseded, and includes any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 and (iii) the 3rd combined
supplementary prospectus dated March 9, 2020 (collectively, the "Prospectus") which is incorporated in the Swiss
prospectus dated April 7, 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:

CBL26
(ii)
Tranche Number:

1
(iii) Date on which the Covered Bonds

Not Applicable
MT DOCS 20214668

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become fungible:
2.
Specified Currency or Currencies:

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

CHF 100,000,000
(i)
Series:

CHF 100,000,000
(ii)
Tranche:

CHF 100,000,000
4.
Issue Price:

100.00 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 9, 2020
(ii)
Interest Commencement Date:

Issue Date
7.
(i)
Final Maturity Date:

October 9, 2028
(ii)
Extended Due for Payment Date of
The Interest Payment Date falling in or nearest to October 9,
Guaranteed Amounts corresponding
2029
to the Final Redemption Amount
under the Covered Bond Guarantee:
8.
Interest Basis:

0.1412 per cent. per annum Fixed Rate from (and including)
the Interest Commencement Date to (but excluding) the Final
Maturity Date
0.1412 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:

0.1412 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
If applicable, 0.1412 per cent. per annum payable monthly in
MT DOCS 20214668

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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 9th in each year adjusted in accordance with the
Business Day Convention up to and including the Final
Maturity Date, commencing October 9, 2020
If applicable, the 9th 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 7.06 per Calculation Amount, except in respect of the
short first coupon specified in 13(v) below
(v)
Broken Amount(s)

CHF 3.53 per Calculation Amount (short first coupon)
payable on the Interest Payment Date falling on or nearest to
October 9, 2020
(vi) Day Count Fraction:

30/360
(vii) Determination Dates:

October 9th 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)
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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)
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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 20214668

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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:

By:

Duly authorized

Duly authorized
MT DOCS 20214668
[CIBC CBL26 Final Terms]

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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 7, 2020.
(ii)
Estimate of total expenses related to
CHF 8,000
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
0.1412 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:
CH0528881185
(ii)
Common Code:
214611368
(iii) Any clearing system(s) other than
SIX SIS AG
Euroclear
Bank
S.A./N.V.,
Swiss Security Number: 52888118
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
Credit Suisse AG
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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 20214668