CMUE.F CIBC Multifactor US Equity

TORONTO, Dec. 23, 2020 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. today announced the estimated 2020 annual reinvested capital gains distributions for the CIBC ETFs and ETF Series of the CIBC Fixed Income Pools. This is an update to estimated annual reinvested capital gains distributions announced on December 7^th, 2020. The distribution estimates are subject to change prior to the final distribution if the CIBC ETFs or ETF Series experience subscriptions or redemptions prior to the ex-dividend date.

These estimates are for the year-end capital gains distributions only, and do not include cash distributions for December 2020. The annual capital gains distributions will be reinvested in additional units of the CIBC ETF or ETF Series. The additional units will be immediately consolidated with the previously outstanding units such that the number of outstanding units following the distribution will equal the number of units outstanding prior to the distribution.

Unitholders of record as of December 31, 2020, will receive the 2020 annual reinvested distributions. The final year-end capital gains distribution amounts, are expected to be announced on or about December 29, 2020. The actual taxable amounts of cash and reinvested distributions for 2020, including the tax characteristics of the distributions, will be reported in 2021.

Details of the per-unit estimated annual reinvested capital gains distribution amounts are as follows:

Distribution estimates are only approximations, and are not guaranteed. Distribution estimates do not actually denote the yield unitholders may receive. The year-end capital gains distribution estimates are provided by CIBC Asset Management Inc. and are for information purposes only. They do not reflect final attributions for tax purposes. All values are rounded to four decimal places and expressed in Canadian dollars, unless otherwise indicated, and totals may not sum due to rounding.

ETF Series of the CIBC Fixed Income Pools and CIBC ETFs are managed by CIBC Asset Management Inc., a subsidiary of Canadian Imperial Bank of Commerce. Commissions, management fees and expenses all may be associated with investments in ETF Series of the CIBC Fixed Income Pools or CIBC ETFs. Please read the CIBC Fixed Income Pools prospectus, CIBC ETFs prospectus or ETF Facts document before investing. To obtain a copy, call 1-888-888-3863, ask your advisor or visit www.cibc.com/etfs. Exchange traded funds (ETFs) and ETF Series are not guaranteed, their values change frequently and past performance may not be repeated. ETF Series of the CIBC Fixed Income Pools and CIBC ETFs are offered by registered dealers.

Certain trademarks of Canadian Imperial Bank of Commerce and/or certain of its affiliates (collectively "CIBC") have been licensed by CIBC Asset Management Inc. for use in connection with the CIBC Multifactor Canadian Equity ETF and CIBC Multifactor U.S. Equity ETF (the "CIBC Strategic Beta Equity ETFs"). The securities of the CIBC Equity ETFs are not sponsored, promoted, sold or supported in any other manner by CIBC or by the index calculation agent, Solactive A.G. ("Solactive") nor do CIBC or Solactive offer any express or implicit guarantee or assurance either with regard to the results of using the Indices on which the CIBC Strategic Beta Equity ETFs are based, or the index prices at any time or in any other respect. The prospectus of the CIBC ETFs contains a more detailed description of the limited relationship CIBC and Solactive have with CIBC Asset Management Inc. and the CIBC Strategic Beta Equity ETFs.

About CIBC
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and 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 www.cibc.com/ca/media-centre.

About CIBC Asset Management
CIBC Asset Management, Inc. (CAM), the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM's offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and institutional portfolio management. CAM is one of Canada's largest asset management firms, with over $153 billion in assets under administration as of November 2020.

SOURCE CIBC