Federal Home Loan Bank of Chicago

Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 24, 2020
(Exact name of registrant as specified in its charter)
Federally chartered corporation000-5140136-6001019
(State or other jurisdiction of incorporation)
 (Commission File Number)
(IRS Employer Identification No.)
200 East Randolph Drive
Chicago, Illinois
(Zip Code)
(Address of principal executive offices)  
(312) 565-5700
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

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Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [  ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

Item 1.02 Termination of a Material Definitive Agreement.

On April 24, 2020, the Federal Home Loan Bank of Chicago (the “Bank”) entered into an amendment with 601 W Companies LLC and Brickell 13 Chicago LLC (collectively, the “Landlord”) to terminate that certain Office Lease dated as of January 9, 2009, as amended from time to time (collectively, the “Lease”) between the Landlord and the Bank as tenant for office space in the building commonly known as the Aon Center, located at 200 East Randolph Street, Chicago, Illinois (the “Aon Center”). The Lease termination amendment is in connection with the Bank’s expected relocation from the Aon Center to a leased new office space at The Old Post Office, 433 West Van Buren Street, Chicago, Illinois.

The termination amendment provides the Bank will pay Landlord a termination fee of $4.8 million pursuant to the terms of the Lease. The Lease will terminate on June 30, 2021.

This Report on Form 8-K (this “Report”) contains forward-looking statements which are based upon the Federal Home Loan Bank of Chicago’s (the “Bank”) current expectations and speak only as of the date hereof. All statements other than statements of historical fact are “forward-looking statements,” including any projections or guidance of dividends or other financial items; any statements of the plans, strategies, and objectives for future operations; any statements of belief; and any statements of assumptions underlying any of the foregoing. These statements may use forward-looking terms, such as “anticipates,” “believes,” “expects,” “could,” “plans,” “estimates,” “may,” “should,” “will,” or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risks or uncertainties, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the impact of the COVID-19 pandemic on the global and national economies and on the Bank’s, Bank members’, and other third parties’ businesses (including the timing of the Bank’s relocation to its new leased office space), maintaining compliance with regulatory and statutory requirements (including relating to the Bank's dividend payments and retained earnings), a decrease in the Bank's levels of business which may negatively impact its results of operations or financial condition, the reliability of the Bank's projections, assumptions, and models on future financial performance and condition, instability in the credit and debt markets, economic conditions (including effects on, among other things, mortgage-backed securities), changes in mortgage interest rates and prepayment speeds on mortgage assets, the Bank's ability to execute its business model and to pay future dividends (including enhanced dividends on activity stock), the Bank's ability to meet required conditions to repurchase or redeem excess capital stock from members, including maintaining compliance with its minimum regulatory capital requirements and determining its financial condition is sound enough to support such repurchases and redemptions, the Bank's ability to continue to offer the Reduced Capitalization Advance Program, the Bank's ability to implement product enhancements and new products, the impacts of changes to Federal Home Loan Bank membership requirements, capital requirements and guidance, and liquidity requirements and guidance by the Federal Housing Finance Agency, the loss of members through mergers and consolidations, the Bank's ability to protect the security of its information systems and manage any failures, interruptions, or breaches, uncertainties relating to the potential phase-out of the London Interbank Offered Rate (LIBOR, and the risk factors set forth in the Bank's periodic filings with the Securities and Exchange Commission, which are available on the Bank's website at The Bank assumes no obligation to update any forward-looking statements made in this Report.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 27, 2020 
By:/s/ Roger D. Lundstrom                
Roger D. Lundstrom
Executive Vice President and Chief Financial Officer