On June 12, 2017, PrivateBancorp, Inc.
(“PrivateBancorp“) issued a press release announcing
that it has notified the New York Stock Exchange of its intention
to delist its 7.125% Subordinated Debentures due 2042 (the
“Debentures“), which currently trade under ticker symbol
“PVTD,” and has notified the Nasdaq Global Select Stock Market
of its intention to delist the 10% Trust Preferred Securities of
PrivateBancorp Capital Trust IV (the “Listed TruPS“),
which currently trade under ticker symbol “PVTBP.” Both actions
are being taken in anticipation of the closing of the acquisition
by Canadian Imperial Bank of Commerce (“CIBC“) of
PrivateBancorp, which, as previously announced, is expected to
close on June 23, 2017. PrivateBancorp also announced that it
intends to call for redemption of all of the outstanding
Debentures and the debentures associated with the Listed TruPS on
the applicable redemption dates after the closing of the
acquisition by CIBC.

The press release is attached as Exhibit 99.1 hereto and
incorporated by reference herein.