Canadian Imperial Bank sells C$1.25 bln 3-year notes

Wed May 1, 2013 1:28pm EDT

May 1 (Reuters) - Canadian Imperial Bank of Commerce on Wednesday sold C$1.25 billion ($1.24 billion) of three-year deposit notes due June 1, 2016, according to a term sheet seen by Reuters.

The 1.75 percent notes were priced at 99.9230 to yield 1.776 percent or 72 basis points over the Canadian government benchmark, according to the term sheet.

The lead manager on the sale was the investment dealer arm of Canadian Imperial Bank of Commerce.

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