CIBC Announces Completion of Offering of Preferred Shares

Dec 16, 2014

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Dec. 16, 2014 /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 41 (the "Series 41 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 41 Shares commence trading on the Toronto Stock Exchange today under the ticker symbol CM.PR.P.

The Series 41 Shares were issued under a prospectus supplement dated December 8, 2014, 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 unlawful.

About CIBC

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 World Markets

For further information:

Investor Relations: Alice Dunning, 416-861-8870,alice.dunning@cibc.com; Jason Patchett, 416-980-8691,jason.patchett@cibc.com; Investor & Financial Communications: Erica Belling, 416-594-7251, erica.belling@cibc.com


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