Obligation CBIC 0% ( XS2034830740 ) en USD

CBIC

100 % ⇌

Canada

XS2034830740 ( en USD )

06/09/2019 - Obligation échue

Prospectus brochure de l'obligation CIBC XS2034830740 en USD 0%, échue

1 000 USD

110 000 USD

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 USD, avec le code ISIN XS2034830740, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 06/09/2019

1

Pricing Supplement dated 24 July 2019

Canadian Imperial Bank of Commerce
Legal Entity Identifier: 2IGI19DL77OX0HC3ZE78

Issue of USD 110,000 Index Linked Notes due September 2019

under a US$7,500,000,000 Note Issuance Programme
INVESTING IN THE NOTES PUTS YOUR CAPITAL AT RISK. YOU MAY LOSE SOME OR
ALL OF YOUR INVESTMENT.

The Offering Memorandum referred to below (as completed by this Pricing Supplement) has
been prepared on the basis that any offer of Notes in any Member State of the European
Economic Area which has implemented Directive 2003/71/EC (as amended or superseded, the
"Prospectus Directive") (each, a "Relevant Member State") will be made pursuant to an
exemption under the Prospectus Directive, as implemented in that Relevant Member State,
from the requirement to publish a prospectus for offers of the Notes. Accordingly any person
making or intending to make an offer in that Relevant Member State of the Notes may only do
so in circumstances in which no obligation arises for the Issuer or any Dealer to publish a
prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus
pursuant to Article 16 of the Prospectus Directive, in each case, in relation to such offer. Neither
the Issuer nor any Dealer has authorized, nor do they authorize, the making of any offer of
Notes in any other circumstances.
MIFID II product governance/Retail investors, professional investors and ECPs target
market Solely for the purposes of the manufacturer's product approval process, the target
market assessment in respect of the Notes has led to the conclusion that: (i) the target market
for the Notes is eligible counterparties and professional clients, each as defined in Directive
2014/65/EU (as amended, "MiFID II"); and (ii) all channels for distribution to eligible
counterparties and professional clients are appropriate. Any person subsequently offering,
selling or recommending the Notes (a "distributor") should take into consideration the
manufacturer's target market assessment; however, a distributor subject to MiFID II is
responsible for undertaking its own target market assessment in respect of the Notes (by either
adopting or refining the manufacturer's target market assessment) and determining appropriate
distribution channels, subject to the distributor's suitability and appropriateness obligations
under MiFID II, as applicable.
PROHIBITION OF SALES TO EEA RETAIL INVESTORS
The Notes are not intended to be offered, sold or otherwise made available to and should not be
offered, sold or otherwise made available to any retail investor in the European Economic Area
("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 MiFID II; (ii) a customer within the meaning of
Directive 2002/92/EC ("IMD"), 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 the
Prospectus Directive. Consequently no key information document required by Regulation (EU)
No 1286/2014 (the "PRIIPs Regulation") for offering or selling the Notes or otherwise making
them available to retail investors in the EEA has been prepared and therefore offering or selling
the Notes or otherwise making them available to any retail investor in the EEA may be unlawful
under the PRIIPs Regulation.
The purchase of Notes involves substantial risks and is suitable only for investors who have
the knowledge and experience in financial and business matters necessary to enable them to
evaluate the risks and the merits of an investment in the Notes. Before making an investment
decision, prospective purchasers of Notes should ensure that they understand the nature of the
Notes and the extent of their exposure to risks and that they consider carefully, in the light of

SPEU 1344 ISIN: XS2034830740

2

their own financial circumstances, financial condition and investment objectives, all the
information set forth in the Offering Memorandum (including "Risk Factors" on pages 23 to 72
thereof) and this Pricing Supplement.

PART A CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the terms and
conditions (the "Conditions") set forth in the Offering Memorandum dated 3 May 2019 (the
"Offering Memorandum"). This document constitutes the final terms of the Notes described
herein and must be read in conjunction with such Offering Memorandum. Full information on
the Issuer and the offer of the Notes is only available on the basis of the combination of this
Pricing Supplement and the Offering Memorandum. The Offering Memorandum is available for
viewing during normal business hours at and copies may be obtained from the registered office
of the Issuer at 199 Bay St., Toronto, Canada M5L 1A2, and at the specified office of the Paying
Agents, for the time being in London and Luxembourg and copies may be obtained from 150
Cheapside, London, EC2V 6ET.
References herein to numbered Conditions are to the "Terms and Conditions of the Notes" and
words and expressions defined in such Conditions shall bear the same meaning in this Pricing
Supplement, save as where otherwise expressly provided.
No person has been authorized to give any information or make any representation not
contained in or not consistent with this Pricing Supplement, or any other information supplied
in connection with the Notes and, if given or made, such information or representation must not
be relied upon as having been authorized by the Issuer or any Dealer.
By investing in the Notes each investor represents that:
(a)
Non-Reliance. It is acting for its own account, and it has made its own independent
decisions to invest in the Notes and as to whether the investment in the Notes is
appropriate or proper for it based upon its own judgment and upon advice from such
advisers as it has deemed necessary. It is not relying on any communication (written or
oral) of the Issuer or any Dealer as investment advice or as a recommendation to invest
in the Notes, it being understood that information and explanations related to the terms
and conditions of the Notes shall not be considered to be investment advice or a
recommendation to invest in the Notes. No communication (written or oral) received from
the Issuer or any Dealer shall be deemed to be an assurance or guarantee as to the
expected results of the investment in the Notes.
(b)
Assessment and Understanding. It is capable of assessing the merits of and
understanding (on its own behalf or through independent professional advice), and
understands and accepts the terms and conditions and the risks of the investment in the
Notes. It is also capable of assuming, and assumes, the risks of the investment in the
Notes.
(c)
Status of Parties. Neither the Issuer nor any Dealer is acting as a fiduciary for or adviser
to it in respect of the investment in the Notes.
AN INVESTMENT IN NOTES LINKED TO ONE OR MORE REFERENCE ITEMS MAY
ENTAIL SIGNIFICANT RISKS NOT ASSOCIATED WITH INVESTMENTS IN A
CONVENTIONAL DEBT SECURITY. THE AMOUNT PAID BY THE ISSUER ON
REDEMPTION OF THE NOTES MAY BE LESS THAN THE NOMINAL AMOUNT OF THE
NOTES, TOGETHER WITH ANY ACCRUED INTEREST, AND MAY IN CERTAIN
CIRCUMSTANCES BE ZERO. WHERE THE NOTES ARE REDEEMED BY THE ISSUER BY
DELIVERY OF REFERENCE ITEM(S) THE VALUE OF THE REFERENCE ITEM(S) MAY BE
LESS THAN THE NOMINAL AMOUNT OF THE NOTES, TOGETHER WITH ANY ACCRUED
INTEREST, AND MAY IN CERTAIN CIRCUMSTANCES BE ZERO.
INVESTORS SHOULD BE PREPARED TO SUSTAIN A LOSS OF ALL OR PART OF THEIR
INVESTMENT.

SPEU 1344 ISIN: XS2034830740

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The provisions of Annex A and the Schedule (if any) apply to this Pricing Supplement and such
documents shall be read together.
The information included herein with respect to indices and/or formulas comprising, based on
or referring to variations in the prices of one or more shares in companies, any other equity or
non-equity securities, currencies or currency exchange rates, interest rates, credit risks, fund
units, shares in investment companies, term deposits, life insurance contracts, loans,
commodities or futures contracts on the same or any other underlying instrument(s) or asset(s)
or the occurrence or not of certain events not linked to the Issuer or any other factors to which
the Notes are linked (the "Underlyings") consists only of extracts from, or summaries of publicly
available information. The Issuer accepts responsibility that such extracts or summaries have
been accurately reproduced and that, so far as it is aware, and is able to ascertain from
information published by the issuer, owner or sponsor, as the case may be, of such
Underlyings, no facts have been omitted that would render the reproduced extracts or
summaries inaccurate or misleading. No further or other responsibility in respect of such
information is accepted by the Issuer. In particular, neither the Issuer nor any Dealer accepts
responsibility in respect of the accuracy or completeness of the information set forth herein
concerning the Underlyings of the Notes or that there has not occurred any event which would
affect the accuracy or completeness of such information.
The purchase of Notes issued under the Programme is associated with certain risks. Each
prospective investor in Notes must ensure that the complexity and risks inherent in the Notes
are suitable for its investment objectives and are appropriate for itself or the size, nature and
condition of its business, as the case may be. No person should deal in the Notes unless that
person understands the nature of the relevant transaction and the extent of that person's
exposure to potential loss. Each prospective purchaser of Notes should consider carefully
whether the Notes are suitable for it in light of its circumstances and financial position.
Prospective investors in Notes should consult their own legal, tax, accountancy and other
professional advisers to assist them in determining the suitability of the Notes for them as an
investment.
1.
(i)
Issuer:
Canadian Imperial Bank of Commerce

(ii)
Branch of Account:
Main Branch, Toronto

(iii)
Definitive N Registered Notes
No
(Namensschuldverschreibungen):
2.
(i)
Series Number:
SPEU 1344
3.
Specified Currency or Currencies:
United States Dollars ("USD")
4.
Aggregate Nominal Amount of Notes:
USD 110,000
5.
Issue Price:
100 per cent. of the Aggregate Nominal Amount
6.
(i)
Specified Denominations:
USD 1,000 and integral multiples of USD 1 in
excess thereof up to and including USD 1,999

(ii)
Calculation Amount:
USD 1
7.
Trade Date:
22 July 2019
8.
Strike Date/Pricing Date:
22 July 2019
9.
(i)
Issue Date:
29 July 2019

(ii)
Interest Commencement Date:
Not Applicable

SPEU 1344 ISIN: XS2034830740

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(iii)
CNY Issue Trade Date:
Not Applicable
10.
Maturity Date:
6 September 2019, or, if such date is not a
Business Day, then the Maturity Date shall be the
next following Business Day
11.
(i) Business Centre:
New York
(ii) Business Day Convention
Following Business Day Convention
12.
Interest Basis:
Not Applicable

13.
(i)
Redemption/Payment Basis:
Index Linked
(further particulars specified below)

(ii)
Protection Amount:
Not Applicable
14.
Change of Interest or
Not Applicable
Redemption/Payment Basis:
15.
Put/Call Options:
Not Applicable
16.
Date of Board approval for issuance of
Not Applicable
Notes obtained:
17.
Bail-inable Notes:
No
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
18.
Fixed Rate Notes:
Not Applicable
19. Floating Rate Note Provisions:
Not Applicable
20.
Zero Coupon Note Provisions:
Not Applicable
21.
Interest Linked to one or more
Not Applicable
Reference Items provisions:

PROVISIONS RELATING TO REDEMPTION
22.
Call Option:
Not Applicable
23.
Put Option:
Not Applicable
24.
Automatic Redemption (Autocall)
Not Applicable
25.
Final Redemption Amount of each
As specified in paragraph 29 and Annex A below
Note:

(i)
Reference Item(s):
As specified in paragraph 29 and Annex A below

SPEU 1344 ISIN: XS2034830740

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(ii)
Provisions for determining Final
As specified in paragraph 29 and Annex A below
Redemption Amount where
calculated by reference to an
Index and/or an Equity and/or a
Currency Price and/or a
Commodity and/or a Commodity
Index and/or a Fund and/or an
Inflation Index or any other
variable:

(iii)
Provisions for determining Final
As specified in paragraph 29 and Annex A below
Redemption Amount where
calculation by reference to an
Index and/or an Equity and/or a
Currency Price and/or a
Commodity and/or a Commodity
Index and/or a Fund and/or an
Inflation Index or any other
variable is impossible or
impracticable or otherwise
disrupted:

(iv)
Settlement Method
Cash Settlement
26.
Bail-inable Notes TLAC
Not Applicable
Disqualification Event Call Option:
27.
Early Redemption Amount:
Market Value less Associated Costs per Calculation
Amount: With respect to each Calculation Amount, such
Early Redemption Amount(s) of each
amount(s) determined by the Calculation Agent which
Note: payable on redemption for taxation
shall represent the fair market value of such Calculation
reasons, TLAC Disqualification Event Call Amount on the date of redemption, including accrued
Option or on event of default or illegality
interest (if any), adjusted to account fully for any losses,
or other early redemption in accordance
expenses and costs to the Issuer (or any of its Affiliates)
with the Conditions and/or the method of
of unwinding any underlying or related hedging and
calculating the same (if required or if
funding arrangements, all as determined by the
different from that set out in Condition
Calculation Agent in its sole and absolute discretion.
5(c) other than, for the avoidance of
For the purposes hereof:
doubt, where paragraph 29 applies)

(i) the references to ", together with interest accrued, if
any, to (but excluding) the date fixed for redemption"
shall be deemed to be deleted from each of Condition
5(c), Condition 5(d) and Condition 5(e); and
(ii) the references to "together with accrued interest to
the date of payment" shall be deemed to be deleted
from Condition 18
PROVISIONS RELATING TO THE TYPE OF NOTES
28.
Commodity Linked Notes:
Not Applicable
29.
Index Linked Notes:
Applicable

SPEU 1344 ISIN: XS2034830740

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For the avoidance of doubt, Condition 7 shall apply,
including the Market Disruption Event in Condition 7(a)
and the provisions of Conditions 7(b) and 7(c), but only to
the extent that any such provision is not expressly stated
to be "Not Applicable" herein and in the event of any
conflict between the provisions of the Pricing Supplement
and Condition 7, then the provisions of the Pricing
Supplement shall prevail

(i)
Whether the Notes relate to a
Single Underlying Index (the "Underlying Index") as
basket of indices or a single
specified in Annex A
index, the identity of the
relevant Index/Indices and
details of Index Sponsor(s):

(ii)
Relevant provisions for
As specified in Annex A
determining the Final
Redemption Amount:

(iii)
Calculation Agent responsible
Canadian Imperial Bank of Commerce (Toronto)
for making calculations
pursuant to Condition 7:

(iv)
Exchange(s):
As specified in Annex A

(v)
Related Exchange(s):
All Exchanges

(vi)
Redemption Amount:
Calculated in accordance with paragraph 29(ii) above and
Annex A

(vii)
Valuation Date(s):
30 August 2019; provided that, for the avoidance of
doubt, the Valuation Date is an Exchange Business Day
and if not, then the Valuation Date shall be the next
following Exchange Business Day

(viii)
Valuation Time:
The definition in Condition 7(a) applies

(ix)
Strike Price:
As specified in the section with the heading "Initial Price
and Strike Price" in Annex A

(x)
Multiplier for each Index
Not Applicable
comprising the basket:

(xi)
Correction of Index Levels:
Applicable
The Reference Price shall be calculated without regard to
any subsequently published correction

(xii)
Correction Cut-Off Date:
2 Business Days prior to the Maturity Date

(xiii)
Additional Disruption Events:
Applicable

The following Additional Disruption Events apply to the
Notes:
Change in Law
Hedging Disruption
Increased Cost of Hedging

SPEU 1344 ISIN: XS2034830740

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(xiv)
Other terms or special
Not Applicable
conditions:
30.
Equity Linked Notes:
Not Applicable
31.
FX Linked Notes:
Not Applicable
32.
Fund Linked Conditions:
Not Applicable
33.
Inflation Linked Notes:
Not Applicable
34.
Preference Share Linked Notes:
Not Applicable
35.
Dual Currency Note Provisions:
Not Applicable
36.
Other variable-linked interest Note
Not Applicable
Provisions:
37.
Physical Delivery Notes:
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
38. Form of Notes:
Registered Notes

Unrestricted Global Registered Note registered in the
name of a nominee for a common depositary for
Euroclear and Clearstream, Luxembourg
39. New Global Note:
Not Applicable
40. Financial Centre(s) or other special
Not Applicable
provisions relating to payment dates:

41. Talons for future Coupons or Receipts to
Not Applicable
be attached to Definitive Notes (and dates
on which such Talons mature):
42. Details relating to Partly Paid Notes:
Not Applicable
amount of each payment comprising the
Issue Price and date on which each
payment is to be made and consequences
(if any) of failure to pay, including any right
of the Issuer to forfeit the Notes and
interest due on late payment:
43. Details relating to Instalment Notes:
Not Applicable
44. Redenomination, renominalisation, and
Not Applicable
reconventioning provisions:
45. Consolidation provisions:
Not Applicable
46. Governing Law and Jurisdiction:
English Law
47. Other final terms:
Not Applicable

SPEU 1344 ISIN: XS2034830740

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48. Additional steps that may only be taken
Not Applicable
following approval by an Extraordinary
Resolution in accordance with Condition
19(a):
49. Belgian Securities Annex:
Not Applicable

PURPOSE OF PRICING SUPPLEMENT
This Pricing Supplement comprises the final terms required for issue and admission to trading
on the Euro MTF and admission to the Official List of the Luxembourg Stock Exchange of the
Notes described herein pursuant to the US$7,500,000,000 Note Issuance Programme of
Canadian Imperial Bank of Commerce.
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in this Pricing Supplement.
Signed on behalf of the Issuer:

By:

Duly authorized

By:

Duly authorized

SPEU 1344 ISIN: XS2034830740

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PART B OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING

Application has been made by the Issuer (or on its behalf) for the Notes to be admitted to
trading on the Euro MTF and listed on the Official List of the Luxembourg Stock Exchange
with effect from the Issue Date.

2.
RATINGS

Ratings:
The Notes to be issued have not been rated.
3.
OPERATIONAL INFORMATION

(i)
ISIN Code:
XS2034830740

(ii)
Common Code:
203483074

(iii)
Valoren:
Not Applicable

(iv)
CFI:
DTVXFR

(v)
FISN:
Not Applicable

(vi)
Any clearing system(s)
Not Applicable
other than Euroclear Bank
SA/NV and Clearstream
Banking S.A. and the
relevant identification
number(s):

(vii)
Delivery:
Delivery against payment

(viii)
Calculation Agent:
Canadian Imperial Bank of Commerce (Toronto)

(ix)
Paying Agent:
Deutsche Bank AG, London Branch

(x)
Names and addresses of
Not Applicable
additional Paying Agent(s)
(if any):

(xi)
Intended to be held in a
No
manner which would allow
Eurosystem eligibility:
4.
DISTRIBUTION
(i)
Method of Distribution:
Non-syndicated
(ii)
If syndicated, names and
Not Applicable
addresses of Managers and
underwriting commitments:
(iii)
If non-syndicated, name of
CIBC World Markets plc
Dealer:
(iv)
Stabilizing Manager(s) (if
Not Applicable
any):

SPEU 1344 ISIN: XS2034830740

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(v)
US Selling Restrictions:
Reg. S Compliance Category 2
(vi)
Prohibition of Sales to EEA
Applicable
Retail Investors:
(vii)
Prohibition of Sales to
Applicable
Belgian Consumers:
(viii) Applicable TEFRA
Not Applicable
exemption:
(ix)
Additional Selling
Not Applicable
Restrictions:
5.
GENERAL

(i)
The aggregate principal
Not Applicable
amount of Notes issued
has been translated into
U.S. dollars at the rate of
USD[ ], producing a sum
of:

(ii)
Additional Tax
Section 871(m) Internal Revenue Code: Not Applicable
Considerations:

SPEU 1344 ISIN: XS2034830740