Expanded CDR lineup provides more opportunities for Canadians to invest in global companies

TORONTO, Feb. 13, 2024 /CNW/ - Today CIBC announced that seven new Canadian Depositary Receipts ("CDRs") will be listed on Cboe Canada and available for trading on February 15. Introduced to investors over two years ago, CIBC will have a total of 54 CDRs available in market.

CDRs make it easy to invest in many of the world's largest companies – in Canadian dollars. Offered at a fraction of the price per share of the underlying reference share, and with a built-in notional currency hedge, CDRs provide investors with affordable access to US-listed stocks while mitigating the currency risk associated with global investing.

"Since launch, investors have shown they are looking to diversify their portfolios and get exposure to global companies," said Christian Exshaw, Managing Director and Head, CIBC Global Markets and Direct Financial Services. "We look forward to furthering our CDR offering,  developing innovative solutions that address investor needs."

The seven new CDRs are listed below with their Cboe Canada ticker symbols:

• BlackRock Canadian Depositary Receipts (CAD Hedged) – BLK
• Constellation Brands Canadian Depositary Receipts (CAD Hedged) – STZ
• Deere Canadian Depositary Receipts (CAD Hedged) – DEER
• lululemon Canadian Depositary Receipts (CAD Hedged) – LULU
• Palo Alto Networks Canadian Depositary Receipts (CAD Hedged) – PANW
• ServiceNow Canadian Depositary Receipts (CAD Hedged) – NOWS
• Thermo Fisher Canadian Depository Receipts (CAD Hedged) - TMO

These seven will add to the existing lineup of CDRs which are available for trading on Cboe Canada.

The Prospectus Supplement for these latest Series of CDRs has been filed on SEDAR+ at www.sedarplus.ca. For more information about CDRs, please visit https://cdr.cibc.com.

CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and 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 www.cibc.com/ca/media-centre.

SOURCE CIBC