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THE UNITED STATES/
TORONTO, March 11, 2015 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced that it has completed the offering
of 12 million Basel III-compliant Non-cumulative Rate Reset Class A
Preferred Shares Series 43 (the "Series 43 Shares") priced at $25.00
per share to raise gross proceeds of $300 million.
The offering was made through a syndicate of underwriters led by CIBC
World Markets Inc. The Series 43 Shares commence trading on the Toronto
Stock Exchange today under the ticker symbol CM.PR.Q.
The Series 43 Shares were issued under a prospectus supplement dated
February 27, 2015, to CIBC's short form base shelf prospectus dated
March 11, 2014.
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
CIBC is a leading Canadian-based global financial institution with
nearly 11 million personal banking and business clients. Through our
three major business units - Retail and Business Banking, Wealth
Management and Wholesale Banking - 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. You can find other news releases and information
about CIBC in our Media Centre on our corporate website at www.cibc.com.
SOURCE CIBC - Investor Relations
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