CARDS II Trust announces removal of account assets

TORONTO, Dec. 9, 2013 /CNW/ - CARDS II Trust (the "Trust") announces that today, in connection with Canadian Imperial Bank of Commerce's ("CIBC") agreement to sell to The Toronto-Dominion Bank ("TD Bank") approximately 50% of CIBC's current Aerogold credit card portfolio (the "Partial Portfolio Sale Transaction"), as disclosed in the Trust's press release dated September 16, 2013, CIBC, in its capacity as seller under the second amended and restated pooling and servicing agreement dated as of May 28, 2012 between CIBC, as seller and initial servicer, and Computershare Trust Company of Canada, as custodian (the "Pooling and Servicing Agreement"), has removed approximately $3.2 billion in credit card receivables (the "Sold Portfolio") from the revolving custodial pool in the Trust's securitization program.  The removal of the Sold Portfolio has been completed in accordance with the terms and conditions of the Pooling and Servicing Agreement, including receiving written confirmation from each applicable rating agency that the removal will not result in a reduction or withdrawal of the ratings of the rated notes of the Trust and the removal not causing the receivables balance of the custodial pool to be less than the balance required pursuant to the Pooling and Servicing Agreement.  Upon and subject to completion of the Partial Portfolio Sale Transaction, CIBC will transfer the Sold Portfolio to TD Bank.

This is not an offer to sell or a solicitation of any offer to buy any securities.  Offers are made only by prospectus or other offering materials.  The securities issued by the Trust have not been registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws in the United States.

SOURCE: CARDS II Trust

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