CIBC has announced automatic splits for two Canadian Depositary Receipts tied to Advanced Micro Devices and CrowdStrike, giving investors more units while leaving the overall economic value of their positions unchanged.
The bank said the AMD Canadian Depositary Receipts, traded on the Toronto Stock Exchange under the ticker AMD, will be split seven-for-one.
The CrowdStrike Canadian Depositary Receipts, traded under the ticker CRWD, will be split five-for-one.
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What CIBC announced
CIBC said the splits will take effect after the close of trading on October 15, 2026.
Investors who hold the affected CDRs at the close of business on October 14, 2026, will be entitled to receive the additional post-split receipts.
| CDR | TSX ticker | Split ratio | Record date | Payment date | Split-adjusted trading |
|---|---|---|---|---|---|
| Advanced Micro Devices CDR | AMD | 7-for-1 | October 14, 2026 | October 15, 2026 | October 16, 2026 |
| CrowdStrike CDR | CRWD | 5-for-1 | October 14, 2026 | October 15, 2026 | October 16, 2026 |
The closing prices cited by CIBC on September 25 were $113.55 for the AMD CDR and $80.52 for the CrowdStrike CDR.
What the CIBC CDR split means for investors
A stock split increases the number of units in an account while reducing the value represented by each individual unit by a corresponding amount.
For example, an investor holding 10 AMD CDRs before the split would be expected to hold 70 AMD CDRs after a seven-for-one split, subject to normal brokerage processing.
An investor holding 10 CrowdStrike CDRs would be expected to hold 50 CRWD CDRs after the five-for-one split.
CIBC said the product of each CDR ratio and the number of CDRs outstanding will not change because of the split.
That means the action is not designed to create an immediate gain or loss for holders, although the market price of the underlying companies and the CDRs can continue to move.
CIBC also said it obtained a legal opinion that the splits should not have material adverse consequences under Canadian federal income tax laws for affected Canadian resident holders.
Important dates for AMD and CRWD CDR holders
The affected receipts will trade on a “due bill” basis from the opening of trading on October 14 through the close of trading on October 15.
A due bill period is used to identify trades that carry an entitlement connected with a pending corporate action.
The receipts are expected to begin trading on a split-adjusted basis on October 16.
Investors do not need to submit a request to receive the additional CDRs.
CIBC said brokerage accounts are expected to be updated automatically, although some brokers may take several days to display the new number of receipts.
Investors who want to trade during the processing period should contact their brokerage for instructions on how trades will be handled.
What are Canadian Depositary Receipts
Canadian Depositary Receipts allow Canadian investors to obtain exposure to shares of companies listed outside Canada while trading in Canadian dollars on a Canadian exchange.
CIBC says its CDR structure uses a variable CDR ratio and a notional currency hedge intended to reduce the effect of changes in the Canadian dollar on the investment.
The structure can also make a high-priced foreign company more accessible because one CDR may represent only a fraction of an underlying share.
CDRs can generally be bought and sold through brokerage platforms and may be held in registered accounts such as TFSAs and RRSPs, subject to the account and investment rules that apply.
The split does not remove investment risk.
The value of the AMD and CrowdStrike CDRs will still be affected by the performance of the underlying companies, broader market conditions, currency movements, trading activity and the terms of the specific CDR.
What happens next
CIBC has reserved the right to cancel or amend the corporate action before October 13, 2026, if it considers that appropriate.
Absent a change, holders should watch their brokerage accounts after October 15 for the updated quantities and split-adjusted prices.
Investors should also keep their trade confirmations and account records because the number of units, displayed cost basis and transaction history may update at different times depending on the brokerage platform.
The announcement changes the unit count for two CDR products but does not change the underlying investment thesis for AMD or CrowdStrike.
Frequently Asked Questions
What CDRs is CIBC splitting?
CIBC is splitting its Advanced Micro Devices Canadian Depositary Receipts under ticker AMD and its CrowdStrike Canadian Depositary Receipts under ticker CRWD.
What are the CIBC CDR split ratios?
The AMD CDR split is seven-for-one, while the CrowdStrike CDR split is five-for-one.
When will the CIBC CDR splits take effect?
The splits are scheduled to take effect after the close of trading on October 15, 2026, with split-adjusted trading expected to begin on October 16, 2026.
Do CDR holders need to take action?
No. CIBC says brokerage accounts are expected to be updated automatically, although some brokers may take several days to reflect the additional receipts.
Will the CDR splits increase the value of an investment?
No. A split increases the number of receipts and proportionally reduces the value represented by each receipt, so the split itself is not expected to change the overall economic value of a holder’s position.
Fact-Checked: Key dates, split ratios, affected tickers and investor instructions were checked against CIBC’s September 28, 2026 announcement and its official CDR information. ([cibc.mediaroom.com](https://cibc.mediaroom.com/2026-09-28-CIBC-Announces-Canadian-Depositary-Receipts-Splits))
Disclaimer: This article is for general information only and is not investment, tax or financial advice.