CORRECTED-Canadian Western Bank sells C$300 mln notes

Wed Nov 24, 2010 4:37pm EST

(Corrects to add lead manager)

NEW YORK Nov 23 (Reuters) - Canadian Western Bank (CWB.TO) sold C$300 million ($294 million) of fixed-rate/floating-rate notes on Tuesday, according to a term sheet seen by Reuters.

The notes have an initial maturity of Nov. 30, 2015, and a fixed interest rate of 4.389 percent and were priced at par to yield 200.2 basis points over the Canadian government benchmark.

After the initial maturity date, the interest rate floats until Nov. 30, 2020.

The investment dealer arms of Royal Bank of Canada and National Bank of Canada were the lead managers of the sale, according to the term sheet. ($1=C$1.02)

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