By Sarah Lizee
Olympia, Wash., May 22 – Toronto-Dominion Bank priced $60 million of fixed-to-floating rate notes due May 22, 2022 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 1.25% for the first year, then at a rate equal to SOFR plus 70 basis points, subject to a floor of zero.
The payout at maturity will be par.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
|
Issue: | Fixed-to-floating rate notes
|
Underlying rate: | SOFR
|
Amount: | $60 million
|
Maturity: | May 22, 2022
|
Coupon: | Payable quarterly at an annualized rate of 1.25% for first year, then equal to SOFR plus 70 bps; floor of zero
|
Price: | Par
|
Payout at maturity: | Par
|
Pricing date: | May 20
|
Settlement date: | May 22
|
Agent: | TD Securities (USA) LLC
|
Fees: | 0.25%
|
Cusip: | 89114RLC8
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.