CIBC Announces New Normal Course Issuer Bid

 TORONTO, Aug. 28, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its  intention to seek Toronto Stock Exchange (TSX) approval for a normal course  issuer bid. Purchases of common shares for cancellation will be made subject  to CIBC's ongoing capital requirements. Such purchases will not exceed eight  million shares, or approximately 2% of its outstanding common shares over a 12  month period.  CIBC will file a notice of intention to make a normal course issuer bid with  the TSX and this bid would commence following TSX acceptance of this notice  and continue for up to one year.  Purchases would be made through the facilities of the TSX, alternative  Canadian trading systems or the New York Stock Exchange, in accordance with  applicable regulatory requirements. CIBC intends to periodically establish an  automatic program under which its broker, CIBC World Markets Inc., would  repurchase CIBC shares pursuant to the bid within a defined set of criteria  which CIBC would not vary or suspend.  The price paid for the common shares  will be the market price at the time of the purchase. The common shares  repurchased under the normal course issuer bid will be cancelled.  Between September 9, 2013 and August 26, 2014, CIBC purchased 4.21 million of  its common shares for cancellation at an average price of $91.06 per share  pursuant to its current normal course issuer bid.  A NOTE ABOUT FORWARD-LOOKING STATEMENTS: From time to time, we make written or  oral forward-looking statements within the meaning of certain securities laws,  including in this press release report, in other filings with Canadian  securities regulators or the U.S. Securities and Exchange Commission and in  other communications. These statements include, but are not limited to,  statements about our potential normal course issuer bid purchases and about  our financial condition, priorities, targets, ongoing objectives, strategies  and outlook. Forward-looking statements are subject to inherent risks and  uncertainties that may be general or specific. A variety of factors, many of  which are beyond our control, could cause actual results to differ materially  from the expectations expressed in any of our forward-looking statements,  including general business and economic conditions worldwide; amendments to,  and interpretations of, risk-based capital guidelines; and changes in monetary  and economic policy.  We do not undertake to update any forward-looking  statement except as required by law.  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    SOURCE  CIBC - Investor Relations  Erica Belling, Director, Investor & Financial Communications, (416)  594-7251  To view this news release in HTML formatting, please use the following URL:  CO: Canadian Imperial Bank of Commerce ST: Ontario NI: FIN  
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