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CIBC Investment Solutions – Current Issue
 

CIBC Canadian Market Return GICs (5 Year) due Jan 11, 2024
Available until January 7, 2019


The CIBC Market Return GICs (the “GICs”) are issued by Canadian Imperial Bank of Commerce. The GICs entitle you to fixed annual interest payments (the “Coupon Amounts”) during the term of the GICs and a payment at maturity consisting of your Principal Amount; and a potential interest payment (the “Variable Interest”) linked to the performance of an underlying asset (the “Asset”) multiplied by a Participation Rate. The list of available GICs and key information is summarized below:

 

FundSERV Code

Current GICs

Asset

Term

Annual Coupon Rate

Participation Rate

Issue Date

Maturity Date

CBL 3067

CIBC Canadian Market Return GICs

S&P/TSX 60 Index

3 Years

0.50%

60%

Jan 11, 2019

Jan 11, 2022

CBL 1713

CIBC Canadian Market Return GICs

S&P/TSX 60 Index

5 Years

0.50%

80%

Jan 11, 2019

Jan 11, 2024

 

 

 

 

 

 

 

 

CBL 3068

CIBC Canadian Financials Market Return GICs

Solactive Canada Bank Index

3 Years

0.50%

70%

Jan 11, 2019

Jan 11, 2022

CBL 1714

CIBC Canadian Financials Market Return GICs

Solactive Canada Bank Index

5 Years

0.50%

100%

Jan 11, 2019

Jan 11, 2024

 

 

 

 

 

 

 

 

CBL 2038

CIBC Market Return GICs

Portfolio of 10 Canadian shares

2 Years

0.50%

50%

Jan 11, 2019

Jan 11, 2021

CBL 3069

CIBC Market Return GICs

Portfolio of 10 Canadian shares

3 Years

0.50%

65%

Jan 11, 2019

Jan 11, 2022

CBL 1715

CIBC Market Return GICs

Portfolio of 10 Canadian shares

5 Years

0.50%

100%

Jan 11, 2019

Jan 11, 2024

 

 

 

Interest Calculation

Coupon Amounts will be paid on each Coupon Payment Date during the term of the GICs and will be equal to your Principal Amount multiplied by the Coupon Rate. You will be entitled to receive the Coupon Amount on each Coupon Payment Date regardless of the performance of the Asset. The final Coupon Payment Date will occur on the Maturity Date. It is possible that you will only receive the Coupon Amounts during the term of the GICs.

Variable Interest, if any, will be paid at maturity and will be equal to your Principal Amount multiplied by the GIC Return. The GIC Return will be equal to the Asset Return multiplied by the Participation Rate, provided that if such number is less than or equal to zero, the GIC Return will be equal to zero.  No Variable Interest will be payable at maturity unless the GIC Return is positive. If no Variable Interest is payable, you will still be entitled to receive your Principal Amount and the final Coupon Amount at maturity.

For GICs linked to an underlying index (an “Index” and collectively, the “Indices”), the Asset Return will measure the percentage increase or decrease in the Closing Level of the Index, measured from its Start Level to its End Level.

For GICs linked to a portfolio of shares (each a “Share” and collectively, the “Shares”) of the companies described on page 5 of this Information Statement (each a “Company” and collectively, the “Companies”), the Asset Return will be equal to the average of the Share Returns. The Share Return for each Share will measure the percentage increase or decrease in the Closing Level of each Share, measured from each Start Level to each End Level, subject to a minimum Share Return of -25.00% for each Share.  

Early Redemptions

The GICs (including any short term investments into which funds received by CIBC for investment in the GICs are invested prior to the Issue Date) cannot be redeemed or retracted prior to the Maturity Date except in the event of your death or personal hardship, as determined by CIBC in its sole discretion, or as otherwise provided by law.

Transfers

The GICs are generally not transferable prior to maturity. If purchasing the GICs through a dealer, please consult your advisor regarding your ability to transfer the GICs.

Minimum Investment

$500 for each of the GICs.

Fees

No fees or expenses will be charged during the term of the GICs that will impact the Coupon Amounts payable during the term or the potential Variable Interest payable at maturity.

Eligibility

The GICs are qualified investments for RRSPs, RRIFs, RESPs, RDSPs, certain DPSPs, and TFSAs, subject to annual contribution limits.

CDIC Eligibility

The GICs are eligible for CDIC coverage, subject to CDIC rules and regulations.


A copy of the Offering Document may be obtained by clicking on the link below or contacting your investment advisor.