/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Jan. 22, 2019 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced that it has completed the offering of 13 million Non-cumulative Rate Reset Class A Preferred Shares Series 49 (Non-Viability Contingent Capital (NVCC)) (the "Series 49 Shares") priced at $25.00 per share to raise gross proceeds of $325 million.
The offering was made through a syndicate of underwriters led by CIBC Capital Markets. The Series 49 Shares commence trading on the Toronto Stock Exchange today under the ticker symbol CM.PR.T.
The Series 49 Shares were issued under a prospectus supplement dated January 15, 2019, to CIBC's short form base shelf prospectus dated July 11, 2018.
CIBC has designated the Series 49 Shares as eligible to participate in the CIBC Shareholder Investment Plan along with Series 41, 43, 45 and 47. 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.
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://cibc.mediaroom.com/.
SOURCE CIBC - Investor Relations
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