Obligation CBIC 3.55% ( XS2191444749 ) en EUR

CBIC

100 % ⇌

Canada

XS2191444749 ( en EUR )

3.55% par an ( paiement annuel )

19/06/2025 - Obligation échue

Prospectus brochure de l'obligation CIBC XS2191444749 en EUR 3.55%, échue

1 000 EUR

8 637 000 EUR

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 EUR, avec le code ISIN XS2191444749, paye un coupon de 3.55% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 19/06/2025

Pricing Supplement dated 18 August 2020

Canadian Imperial Bank of Commerce
Legal Entity Identifier: 2IGI19DL77OX0HC3ZE78

Issue of EUR 1,000,000 Index Linked Notes due June 2025
(to become consolidated, fungible with and form a single series with the existing
EUR 8,637,000 Index Linked Notes due June 2025 issued on 19 June 2020)

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 ("EEA") or in the United Kingdom ("UK") (each, a "Relevant State") will be
made pursuant to an exemption under Regulation (EU) 2017/1129 (the "Prospectus
Regulation") 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 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 Regulation or
supplement a prospectus pursuant to Article 23 of the Prospectus Regulation, 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, professional clients and retail clients, each as defined
in Directive 2014/65/EU (as amended, "MiFID II"); (i ) all channels for distribution to eligible
counterparties and professional clients are appropriate; and (iii) the following channels for
distribution of the Notes to retail clients are appropriate - investment advice and portfolio
management, subject to the distributor's suitability and appropriateness obligations under
MiFID II, as applicable. 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.
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 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 78
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 4 May 2020 (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

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474

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.
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

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474

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 2007

(ii)
Tranche Number:
2 (to become consolidated, fungible with and form a
single series with the existing EUR 8,637,000 Index
Linked Notes due June 2025 issued on 19 June 2020
(the "Original Notes") on the Issue Date as set out in
paragraph 9(i) below (the "Consolidation Date")
3.
Specified Currency or Currencies:
Euros ("EUR")
4.
Aggregate Nominal Amount of Notes:

(i)
Series:
EUR 9,637,000

(ii)
Tranche:
EUR 1,000,000
5.
Issue Price:
100 per cent. of the Aggregate Nominal Amount
6.
(i)
Specified Denominations:
EUR 1,000

(ii)
Calculation Amount:
EUR 1,000
7.
Trade Date:
14 August 2020
8.
Strike Date/Pricing Date:
12 June 2020
9.
(i)
Issue Date:
21 August 2020

(ii)
Interest Commencement Date:
Not Applicable

(iii)
CNY Issue Trade Date:
Not Applicable

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474

10.
Maturity Date:
19 June 2025 or, if such date is not a Business Day,
then the Maturity Date shall be the next following
Business Day
11.
(i) Business Centre:
TARGET Business Days
(ii) Business Day Convention
Following Business Day Convention
12.
Interest Basis:
Index Linked
(further particulars specified below)
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
Applicable
Reference Items provisions:

If, at the Scheduled Closing Time on any Valuation Date
(as set out in the second column of Payment Sequence
Table set out in Annex A (the "Payment Sequence
Table")),

(a) the Notes have not already been redeemed on or
before such relevant Valuation Date; and

(b) the Reference Price of each of the Underlying
Indices (as defined in paragraph 29(i) and Annex A is
equal to or greater than the Coupon Payment Level (as
defined in Annex A), then the Notes shall pay a coupon
(the "Coupon Payment Amount") on the relevant
Coupon Payment Date (as defined below), where the
Coupon Payment Amount per Calculation Amount shall
be the result arising out of the application of the Coupon
Payment Formula (as defined in Annex A)

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474

For the avoidance of doubt, if on the relevant Valuation
Date, the Reference Price of any of the Underlying
Indices is strictly less than the Coupon Payment Level,
then no Coupon Payment Amount shall be paid with
respect to such relevant Valuation Date

Any Coupon Payment Amount payable on any Coupon
Payment Date in accordance with this paragraph 21 will
be in addition to any Redemption Amount payable on
such Coupon Payment Date in accordance with
paragraph 29

The "Coupon Payment Date" means the date in the third
column of the Payment Sequence Table next to the
relevant Valuation Date, and, in respect of the Final
Valuation Date (as defined in the Payment Sequence
Table), the Coupon Payment Date shall be the Maturity
Date; provided that if any Coupon Payment Date is not a
Business Day, then such Coupon Payment Date shall
be the next following Business Day

For the avoidance of doubt, no Coupon Payment will be
made on any Coupon Payment Date following an Early
Redemption as defined in and in accordance with
paragraph 29
PROVISIONS RELATING TO REDEMPTION
22.
Call Option:
Not Applicable
23.
Put Option:
Not Applicable
24.
Automatic Redemption (Autocall)
Applicable
As specified in paragraph 29 and Annex A below
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

(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:

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474

(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,
Early Redemption Amount(s) of each
such amount(s) determined by the Calculation Agent
7Note: payable on redemption for taxation which shall represent the fair market value of such
reasons, TLAC Disqualification Event Call Calculation Amount on the date of redemption,
Option or on event of default or illegality
including accrued interest (if any), adjusted to account
or other early redemption in accordance
fully for any losses, expenses and costs to the Issuer
with the Conditions and/or the method of
(or any of its Affiliates) of unwinding any underlying or
calculating the same (if required or if
related hedging and funding arrangements, all as
different from that set out in Condition
determined by the Calculation Agent in its sole and
5(c) other than, for the avoidance of
absolute discretion. 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

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):

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474

(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):
As specified in the second column of the Payment
Sequence Table

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

(ix)
Strike Price:
As specified in the section with the heading "Initial Price
and Kick-In 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

(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:

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474

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
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

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474

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

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474

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.
INFORMATION REGARDING UNDERLYING
Information about the past and future performance of the Euro Stoxx 50 Index and its
volatility can be obtained from http://www.stoxx.com/index.html
4.
OPERATIONAL INFORMATION

(i)
ISIN Code:
The Notes are consolidated, become fungible with and form
a single Series with the Original Notes on and from the
Consolidation Date, when the Notes will have the same
ISIN Code as the Original Notes, which is XS2191444749

(ii)
Common Code:
The Notes are consolidated, become fungible with and form
a single Series with the Original Notes on and from the
Consolidation Date, when the Notes will have the same
Common Code as the Original Notes, which is 219144474

(iii)
Valoren:
53453857

(iv)
CFI:
Not Applicable

(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:
5.
DISTRIBUTION
(i)
Method of Distribution:
Non-syndicated

ISIN: XS2191444749 SPEU: 2007 Tranche 2
219144474