First off, you cant equip armbands and a shield. A shield will unequip and armband and vice versa.
Second, the soldiers cloak is listed as a wrist item, along with all the other cloaks and the satchel for pioneers. In addition, the soldiers cloak is not with the other cloaks, but alone on the page with armor.
screen: http://screencast.com/t/NTVkMGFi
Cheers,
