/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, June 4, 2019 /CNW/ - CIBC (TSX: CM) (NYSE:
CM) today announced that it has completed the offering of 10
million Non-cumulative Rate Reset Class A Preferred Shares Series
51 (Non-Viability Contingent Capital (NVCC)) (the "Series 51
Shares") priced at $25.00 per share
to raise gross proceeds of $250
million.
The offering was made through a syndicate of underwriters led by
CIBC Capital Markets. The Series 51 Shares commence trading on the
Toronto Stock Exchange today under the ticker symbol CM.PR.Y.
The Series 51 Shares were issued under a prospectus supplement
dated May 27, 2019, to CIBC's short
form base shelf prospectus dated July 11,
2018.
CIBC has designated the Series 51 Shares as eligible to
participate in the CIBC Shareholder Investment Plan along with
Series 41, 43, 45, 47 and 49. Holders of eligible shares may elect
to have dividends on those preferred shares reinvested in common
shares if they reside in Canada,
or may elect stock dividends if they reside in the U.S. See "CIBC
Shareholder Investment Plan" at www.cibc.com for more
information.
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 North American financial institution with 10
million personal banking, business, public sector and institutional
clients. Across Personal and Small Business Banking, Commercial
Banking and Wealth Management, and Capital Markets businesses, CIBC
offers a full range of advice, solutions and services through its
leading digital banking network, and locations
across Canada, in the United States and around the
world. Ongoing news releases and more information about CIBC can be
found
at https://www.cibc.com/en/about-cibc/media-centre.html.
SOURCE CIBC
