REG - Canadian Imperial - REDEMPTION NOTICE AND CANCELLATION OF LISTING

Canadian Imperial Bank of CommerceAnnouncement

22/01/2025 10:00

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RNS Number : 2764U  Canadian Imperial Bank of Commerce  22 January 2025

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES, OR MAY QUALIFY, AS
INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE
REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED
KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR")

 

 

 

CANADIAN IMPERIAL BANK OF COMMERCE

FLOATING RATE SUBORDINATED CAPITAL DEBENTURES DUE 2085 (ISIN: GB0001703890)

REDEMPTION NOTICE AND CANCELLATION OF LISTING

TO:     Holders of Floating Rate Subordinated Capital Debentures due 2085
(the "Debentures") of Canadian Imperial Bank of Commerce ("CIBC")

Reference is made to the trust indenture dated August 15, 1986, between CIBC
and CIBC Mellon Trust Company (as successor to National Trust Company) (the
"Trustee"), as supplemented by a first supplemental indenture dated January
28, 2014 (the "Indenture").

Notice is hereby given pursuant to Article Thirteen of the Indenture that all
of the principal amount of Debentures outstanding on February 28, 2025 (the
"Redemption Date") will be redeemed as of the Redemption Date, upon payment of
a redemption amount of (i) US$1,000 for each US$1,000 principal amount of
Debentures, and (ii) all accrued and unpaid interest hereon to but excluding
the Redemption Date (collectively, the "Redemption Price"). Holders of
Debentures on the Redemption Date will also be entitled to receive a full
regularly scheduled interest payment on the Redemption Date in the manner
contemplated by the Indenture. Note all capitalized terms used herein have the
meaning ascribed thereto in the Indenture, unless otherwise indicated.

Pursuant to Article Three of the Indenture, CIBC has received approval from
the Office of the Superintendent of Financial Institutions to redeem all of
the Debentures.

The Redemption Price will be delivered by CIBC directly to Banque
Internationale à Luxembourg on behalf of the Trustee and will be payable upon
presentation and surrender of the certificates evidencing the Debentures
called for redemption at the following corporate trust office or through such
other delivery arrangements as may be established between the registered
holders of the Debentures and the Trustee and consented to by CIBC:

Banque Internationale à Luxembourg

69 route d'Esch

2953 Luxembourg

Grand Duchy of Luxembourg

 

Attention: Agency Services

 

The interest upon the principal amount of Debentures called for redemption
shall cease to be payable from and after the Redemption Date, unless payment
of the Redemption Price shall not be made on presentation for surrender of
such Debentures at the above-mentioned corporate trust office on or after the
Redemption Date or prior to the setting aside of the Redemption Price pursuant
to the Indenture.

CIBC will arrange for the listing of the Debentures on the Official List of
the United Kingdom Financial Conduct Authority and the admission of the
Debentures to trading on the Main Market of the London Stock Exchange plc to
be cancelled following the redemption of the Debentures.

For the purposes of UK MAR and Article 2 of Commission Implementing Regulation
(EU) 2016/1055 as it forms part of domestic law in the United Kingdom by
virtue of the European Union (Withdrawal) Act 2018, this announcement is made
by Wojtek Niebrzydowski, Vice-President, Global Term Funding, Treasury of
CIBC.

For further information, please contact Investor Relations: Jason Patchett,
416-980-8691, jason.patchett@cibc.com.

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