Just how bad would it be for this 1.2 mile long drumstick to strike Earth?

One thing not addressed is the long term effects. That much ejecta is going to block out the Sun to some degree. The question is, how much average temperature lowered? I would guess that food production will be knocked out over a large area, but again, how much less sunlight will be hitting the planet? Is the resulting famine going to last an extended period?