Obligation CBIC 1.7125% ( CH1196216993 ) en CHF

CBIC

102.35 % ▼

Canada

CH1196216993 ( en CHF )

1.7125% par an ( paiement annuel )

12/07/2027

Prospectus brochure de l'obligation CIBC CH1196216993 en CHF 1.7125%, échéance 12/07/2027

13/07/2026 ( Dans 315 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 CH1196216993, paye un coupon de 1.7125% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 12/07/2027

Execution Version
Notice Regarding Offers in the EEA and the UK
PROHIBITION OF SALES TO EEA RETAIL INVESTORS.
The Covered Bonds are not intended to be offered, sold or otherwise made available and should not be
offered, sold or otherwise made available to any retail investor in the EEA. For these purposes, a retail
investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of the
Markets in Financial Instruments Directive 2014/65/EU (as amended or replaced from time to time) (MiFID
II), (ii) a customer within the meaning of Directive (EU) 2016/97 (the IDD), where that customer would not
qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II, or (iii) not a qualified
investor as defined in Regulation (EU) 2017/1129 (the "Prospectus Regulation"). The expression offer includes
the communication in any form by any means of sufficient information on the terms of the offer and the
Covered Bonds to be offered so as to enable an investor to decide to purchase or subscribe for the Covered
Bonds. Consequently, no key information document required by Regulation (EU) No 1286/2014 (the "PRIIPs
Regulation") for offering or selling the Covered Bonds or otherwise making them available to retail investors
in the EEA has been prepared and therefore offering or selling the Covered Bonds or otherwise making them
available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.
PROHIBITION OF SALES TO UK RETAIL INVESTORS.
The Covered Bonds are not intended to be offered, sold or otherwise made available and should not be
offered, sold or otherwise made available to any retail investor in the UK. For these purposes, a retail investor
means a person who is one (or more) of: (i) a retail client as defined in point (8) of Article 2 of Regulation
(EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018
(the "EUWA"), (ii) a customer within the meaning of the provisions of the United Kingdom Financial Services
and Markets Act 2000 (the "FSMA") and any rules or regulations made under the FSMA to implement the
IDD, where that customer would not qualify as a professional client as defined in point (8) of Article 2(1) of
Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA, or (iii) not a qualified
investor as defined in the Prospectus Regulation as it forms part of domestic law by virtue of the EUWA.
Consequently no key information document required by the PRIIPs Regulation as it forms part of domestic
law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the Covered Bonds or
otherwise making them available to retail investors in the UK has been prepared and therefore offering or
selling the Covered Bonds or otherwise making them available to any retail investor in the UK may be
unlawful under the UK PRIIPs Regulation.
Final Terms dated July 11, 2022
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 215,000,000 1.7125 per cent. Covered Bonds due July 13, 2027
under the
CAD 60,000,000,000
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)
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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 the Prospectus Regulation for this issue of Covered Bonds. The
Covered Bonds which are the subject of these final terms are not compliant with the Prospectus Regulation 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 July 22, 2021 as supplemented by (i) the 1st covered bond supplementary prospectus
dated August 27, 2021, (ii) the 2nd covered bond supplementary prospectus dated September 24, 2021 (iii) the 3rd
covered bond supplementary prospectus dated December 6, 2021, (iv) the 4th covered bond supplementary
prospectus dated February 25, 2022 and (v) the 5th covered bond supplementary prospectus dated May 27, 2022
(collectively, the "Prospectus") which is incorporated in the Swiss prospectus dated July 11, 2022 (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, CH-8098 Zurich, Switzerland, E-Mail: [email protected]
as set out at the end of these Final Terms.
1.
(i)
Series Number:

CBL43
(ii)
Tranche Number:

1
(iii) Date on which the Covered Bonds
Not Applicable
become fungible:
2.
Specified Currency or Currencies:

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

CHF 215,000,000
(i)
Series:

CHF 215,000,000
(ii)
Tranche:

CHF 215,000,000
4.
Issue Price:

100 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)
Trade Date:

June 22, 2022
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(ii)
Issue Date:

July 13, 2022
(iii) Interest Commencement Date:

Issue Date
7.
(i)
Final Maturity Date:

July 13, 2027
(ii)
Extended Due for Payment Date of
The Interest Payment Date falling in or nearest to July 13,
Guaranteed Amounts corresponding
2028
to the Final Redemption Amount
under the Covered Bond Guarantee:
8.
Interest Basis:

1.7125 per cent. per annum Fixed Rate from (and including)
the Interest Commencement Date to (but excluding) the Final
Maturity Date
1.7125 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:
1.7125 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, 1.7125 per cent. per annum payable monthly in
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):

July 13th in each year adjusted in accordance with the
Business Day Convention up to and including the Final
Maturity Date, commencing July 13, 2023
If applicable, the 13th 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 85.625 per Calculation Amount
(v)
Broken Amount(s)
Not Applicable
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(vi) Day Count Fraction:

30/360
(vii) Determination Dates:

July 13th 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)
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
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(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)
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-group.com/en/products-services/the-swiss-
stock-exchange/market-data/news-tools/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.
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THIRD PARTY INFORMATION
The ratings explanations set out in Item 2. "Ratings" of Part B have been extracted from the websites of Moody's and
Fitch (as applicable), as indicated. The Issuer and the Guarantor confirm that such information has been accurately
reproduced and that, so far as each is aware, and is able to ascertain from information published by Moody's
Investors Service, Inc. and Fitch Ratings, Inc., no facts have been omitted which would render the reproduced
information inaccurate or misleading.
MTDOCS 45212470

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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
[CIBC CBL43 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 July 11, 2022.
(ii)
Estimate of total expenses related to
CHF 4,150
admission to trading:
2.
RATINGS
The Covered Bonds are expected to be rated:
Moody's: Aaa
Obligations rated "Aaa" are judged to be of the highest
quality, subject to the lowest level of credit risk
(Source: Moody's, https://ratings.moodys.io/ratings)
Fitch: AAA
Obligations rated "AAA" denote the lowest expectation of
default risk. They are assigned only in cases of exceptionally
strong capacity for payment of financial commitments. This
capacity is highly unlikely to be adversely affected by
foreseeable events.
(Source: Fitch, https://www.fitchratings.com/products/rating-
definitions)
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
1.7125 per cent. per annum in respect of the fixed interest
Price:
rate payable on the Covered Bonds
The yield has been calculated on the basis of the issue price
and is no indication for future yield.
5.
DISTRIBUTION
(i)
If syndicated, names of Managers:
Joint-Lead Managers:
UBS AG, Commerzbank Aktiengesellschaft and Canadian
Imperial Bank of Commerce, London Branch
(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
Applicable
Investors:
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(vi) Prohibition of Sales to UK Retail
Applicable
Investors
6.
OPERATIONAL INFORMATION
(i)
ISIN Code:
CH1196216993
(ii)
Common Code:

249804100
(iii) Any clearing system(s) other than
SIX SIS AG
Euroclear
Bank
S.A./N.V.,
Swiss Security Number: 119.621.699
Clearstream
Banking
Société
and indirectly through:
Anonyme or DTC, their addresses
Euroclear Bank S.A./N.V.
and
the relevant identification
Clearstream Banking, société anonyme
number(s):
(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 Zurich
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:
7. PROCEEDS
(a)
Use of net proceeds:
As specified in the Swiss Prospectus
(b)
Estimated net proceeds:
Estimated net proceeds: CHF 214,362,500
MTDOCS 45212470

Document Outline

#3">PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
#4">PROVISIONS RELATING TO REDEMPTION