/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, June 2, 2017 /CNW/ - CIBC (TSX: CM) (NYSE:
CM) today announced that it has completed the offering of 32
million Basel III-compliant Non-cumulative Rate Reset Class A
Preferred Shares Series 45 (Non-Viability Contingent Capital
(NVCC)) (the "Series 45 Shares") priced at $25.00 per share to raise gross proceeds of
$800 million.
The offering was made through a syndicate of underwriters led by
CIBC World Markets Inc. The Series 45 Shares commence trading on
the Toronto Stock Exchange today under the ticker symbol
CM.PR.R.
The Series 45 Shares were issued under a prospectus supplement
dated May 26, 2017, to CIBC's short
form base shelf prospectus dated March 16,
2016.
The securities being offered have not been and will not be
registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. This
press release shall not constitute an offer to sell or an
invitation to purchase or subscribe for any securities in
the United States or in any other
jurisdiction where such offer is unlawful.
About CIBC
CIBC is a leading Canadian-based global financial institution
with 11 million personal banking and business clients. Through our
three major business units – Retail and Business Banking, Wealth
Management and Capital Markets – CIBC offers a full range of
products and services through its comprehensive electronic banking
network, branches and offices across Canada with offices in the United States and around the world.
Ongoing news releases and more information about CIBC can be found
at www.cibc.com/ca/media-centre/ or by following on
Twitter @CIBC, Facebook (www.facebook.com/CIBC) and Instagram
@CIBCNow.
SOURCE CIBC - Investor Relations