CIBC launches $1 billion three-year notes at Treasuries plus 57 bps

By Andrea Heisinger

New York, Sept. 24 - Canadian Imperial Bank of Commerce launched a $1 billion offering of three-year senior notes on Monday, according to an informed source and a filing with the Securities and Exchange Commission.

The notes (Aa2/A+/) launched at 57 basis points over Treasuries. There will be no call option.

Citigroup Global Markets Inc., CIBC World Markets Corp., UBS Securities LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be added to the bank's funds for general corporate purposes.

The diversified financial institution is based in Toronto.

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