Descriptive Transcript

The Balanced Asset 5 Index™ Overview Video

[This video uses animation to illustrate spoken content. The CIBC logo appears with the video title, “Balanced Asset 5 Index™”]

Introducing the Balanced Asset 5 Index™ from CIBC Capital Markets,

[A building appears. Then, several bricks appear to form a square.]

a leading North American financial institution at the forefront of index construction.

[The square is divided into two sections. Two control switches appear, moving up and down in levels.]

By leveraging a classic 60/40 approach to portfolio allocation in combination with rebalancing and volatility control features,

[The square expands into a rectangle. Text reads, “60% Blackrock iShares Core S&P 500 ETF (IVV)” on one section, and “40% Blackrock iShares 20+ Year Treasury Bond ETF (TLT)” on the other section.]

the Balanced Asset 5 Index™ seeks to provide excess returns across market conditions through a tactical combination of equity and fixed income ETFs developed by Blackrock.

[Text reads, “Strategic, Balanced Exposure.”]

Strategic, balanced exposure

[The divided rectangle reappears. A positive bar chart appears on the left section. A gauge labelled “Risk” appears on the right section.]

Through the 60% equity ETF exposure, the Index targets consistent returns over time and across market conditions, while the 40% fixed income ETF allocation seeks to moderate the overall risk of the portfolio. Each month, the Index is rebalanced back to 60/40 weights.

[Text reads, “Innovative Construction Features.”]

Innovative construction features

[A positive line chart with a control switch appears. The switch shifts from right to left, with the label “5%”.]

Index volatility is managed at 5% using custom volatility control strategies,

[The line chart is replaced by the divided rectangle. A new section appears on the left, with the text, “Cash.”]

which shift a percentage of assets into cash as required, capping leverage at 150%.

The end result?

[Arrows appear moving up, and then down.]

Whether the market is high or low, investors get transparent, balanced, diversified exposure

[Dollar signs enclosed in circles appear. A line appears to connect these circles from left to right, depicting a positive line chart.]

without losing the opportunity to take advantage of market movements with daily liquidity.

The Balanced Asset 5 Index™.

A distinct mix of assets and construction features designed to generate excess returns while effectively managing risk.

[The CIBC logo appears. Text reads, “CIBC Capital Markets”]

Important Notice

The Balanced Asset 5 Index™ (the “Index”) is the exclusive property of Canadian Imperial Bank of Commerce (Canadian Imperial Bank of Commerce, together with its affiliates, “CIBC”). CIBC contracted with affiliates of Bloomberg Finance L.P. (“Bloomberg”) to maintain and to make certain calculations related to the Index. “Canadian Imperial Bank of Commerce”, “CIBC”, and “Balanced Asset 5 Index™ ” (collectively, the “CIBC Marks”) are trademarks or service marks of CIBC. None of CIBC or Bloomberg or any other third-party licensor (collectively, the “Index Parties”) to CIBC is acting, or has been authorized to act, as an agent of any issuer of any product or transaction using the Index or has in any way sponsored, promoted, solicited, negotiated, endorsed, offered, sold, issued, supported, structured or priced any products or transaction or provided investment advice or any other advice to any person, purchaser or trader of any product or transaction using the Index. The Index Parties are not the issuer of the products or transactions. Purchasers of any products neither acquire an interest in the Index nor enter into any relationship of any kind whatsoever with the Index Parties.

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In calculating the level of the Index, the Index methodology deducts a maintenance fee of 0.85% p.a. calculated daily. This fee will reduce the level of the Index. Furthermore, while the volatility control applied through the Index may result in less fluctuation in rates of return as compared to indices without volatility controls, it may also reduce the overall rate of return as compared to other indices not subject to volatility controls.

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REGARDING HYPOTHETICAL SIMULATIONS

The Index was launched June 29, 2020.

Prospective investors should be aware that any hypothetical performance data presented is derived from the economic environment and the simulated historical data that prevailed in the period following the date of the relevant simulation. Accordingly, although the graphs and simulated results herein may be useful in order to gain some historical perspective, past performances of the Index and the hypothetical historical performance data presented should not be taken as indicative of future performance of the Index. It is impossible to predict whether the value of the Index will rise, fall or remain flat. The hypothetical historical performance data has not been verified by any independent third party. Hypothetical historical results have their inherent limitations. These hypothetical back-tested results are determined by means of a retroactive application of a back-testing model designed with the benefit of hindsight. Alternative modeling techniques or assumptions might produce significantly different results and prove to be more appropriate or accurate. Hypothetical back-tested results are neither an indicator nor guarantee of future returns or future performance. Actual results will vary, perhaps materially, from the hypothetical analysis.

The hypothetical examples, scenarios or figures herein are provided for illustrative purposes. They allow an understanding of the Index’s mechanism and how the Index would have performed during different market stages over previous years, excluding taxes and expenses. They are NOT an estimate or forecast of the future performance of the Index and have no contractual value. There is no assurance that a transaction will be entered into on any indicative terms. The hypothetical simulations of the Index described in this Site take into account certain maintenance costs that are built into the Index. Actual results including maintenance fees and the precise methodologies will vary, perhaps significantly, from the hypothetical historical data set forth herein.

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