Canadian Imperial Bank of Commerce Pre-Stabilisation Notice (6761B)

TIDMBH29

RNS Number : 6761B

Canadian Imperial Bank of Commerce

11 January 2018

Pre-stabilisation announcement

11 January 2018

Canadian Imperial Bank of Commerce

Stabilisation Notice

CIBC World Markets plc ("CIBC") debt syndicate desk; telephone: +44 20 7234 6387 hereby gives notice that the Stabilising Manager(s) named below may stabilise the offer of the following securities in accordance with Regulation (EU) No. 596/2014 on market abuse (the "Market Abuse Regulation") of the European Parliament and of the Council.

 
 The securities: 
---------------------------------------------------------------- 
 Issuer:                     Canadian Imperial Bank of Commerce 
--------------------------  ------------------------------------ 
 Guarantor (if               CIBC Covered Bond (Legislative) 
  any):                       Guarantor LP 
--------------------------  ------------------------------------ 
 Aggregate nominal           GBP 175mm 
  amount: 
--------------------------  ------------------------------------ 
 Description:                GBP FRN due January 2022, issued 
                              as a reopening of the of the 
                              GBP 325,000,000 Floating Series 
                              CBL15 Tranche 1 Covered Bonds 
                              due 10(th) January 2022 issued 
                              on 10(th) January 2017 
--------------------------  ------------------------------------ 
 Offer price:                 TBA 
--------------------------  ------------------------------------ 
 Stabilisation: 
---------------------------------------------------------------- 
 Stabilisation               CIBC 
  Manager(s):                 HSBC Bank plc 
--------------------------  ------------------------------------ 
 Stabilisation               11 January 2018 
  period expected 
  to start on: 
--------------------------  ------------------------------------ 
 Stabilisation                10 February 2018 
  period expected 
  to end no later 
  than: 
--------------------------  ------------------------------------ 
 Existence, maximum          The Stabilising Manager(s) may 
  size and conditions         over-allot the securities to 
  of use of over-allotment    the extent permitted in accordance 
  facility.                   with applicable law. 
--------------------------  ------------------------------------

The Stabilisation Manager(s) may over-allot the securities to the extent permitted in accordance with applicable law. In connection with the offer of the above securities, the Stabilisation Manager(s) may over-allot the securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. However, stabilisation might not necessarily occur. Any stabilisation action or over-allotment, if begun, may cease at any time. Any stabilisation action or over-allotment shall be conducted in accordance with all applicable laws and rules.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction. This announcement and the offer of the securities to which it relates are only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and must not be acted on or relied on by other persons in the United Kingdom.

In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, any EEA Member State that has implemented Directive 2003/71/EC, as amended (together with any applicable implementing measures in any Member State, the "Prospectus Directive") before the publication of a prospectus in relation to the securities which has been approved by the competent authority in that Member State in accordance with the Prospectus Directive (or which has been approved by a competent authority in another Member State and notified to the competent authority in that Member State in accordance with the Prospectus Directive), this announcement and the offer of the securities to which it relates are only addressed to and directed at persons in that Member State who are qualified investors within the meaning of the Prospectus Directive (or who are other persons to whom the offer may lawfully be addressed before the publication of a prospectus in relation to the securities) and must not be acted on or relied on by other persons in that Member State. This announcement is not an offer of securities for sale into the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered, sold or delivered in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States or in any other jurisdiction where it would be unlawful to offer or sell securities.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 12, 2018 02:00 ET (07:00 GMT)

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