CIBC to redeem 2.95% Debentures due June 19, 2029 (NVCC) (2024)

CIBC to redeem 2.95% Debentures due June 19, 2029 (NVCC)

TORONTO, May 13, 2024/CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention toredeem all $1.5 billion of its 2.95%Debentures due June 19, 2029(Non-Viability Contingent Capital (NVCC)) (subordinatedindebtedness) (the "Debentures"). In accordance with their terms,the Debentures will be redeemed at 100% of their principal amounton June 19, 2024, together withaccrued and unpaid interest up to but excluding the redemptiondate. Interest on the Debentures will cease to accrue from andafter the redemption date.

CIBC to redeem 2.95% Debentures due June 19, 2029 (NVCC) (1)

The redemption will be financed out of the general corporatefunds of CIBC. Notice will be delivered to registered holders ofthe Debentures in accordance with the terms outlined in theprospectus supplement for the Debentures.

About CIBC

CIBC is a leading North American financial institution with 14million personal banking, business, public sector and institutionalclients. Across Personal and Business Banking, Commercial Bankingand Wealth Management, and Capital Markets and Direct FinancialServices businesses, CIBC offers a full range of advice, solutionsand services through its leading digital banking network, andlocations across Canada, inthe United States and around theworld. Ongoing news releases and more information about CIBC can befound at www.cibc.com/ca/media-centre.

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CIBC to redeem 2.95% Debentures due June 19, 2029 (NVCC) (2)

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