By Wendy Van Sickle
Columbus, Ohio, Dec. 1 – Toronto-Dominion Bank priced $12.95 million of fixed-to-floating rate notes due May 31, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly fixed coupon at 7% per year for the first four quarters.
After that, it will accrue at the SOFR plus 100 basis points, subject to a floor of 0% per annum.
The payout at maturity will be par plus any accrued interest.
TD Securities (USA) LLC and Jefferies LLC are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Fixed-to-floating rate notes
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Amount: | $12,947,000
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Maturity: | May 31, 2027
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Price: | Par
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Coupon: | 7% for first four quarters; after that, SOFR plus 100 bps with floor of 0% per annum, payable quarterly
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Payout at maturity: | Par plus any interest
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Pricing date: | Nov. 28
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Settlement date: | Nov. 30
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Agents: | TD Securities (USA) LLC and Jefferies LLC
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Fees: | 0.75586%
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Cusip: | 89114XCG6
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