By Wendy Van Sickle
Columbus, Ohio, April 17 – Toronto-Dominion Bank priced $75 million of fixed-to-floating rate notes due April 17, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly fixed coupon at 5.5% per year for the first quarter.
After that, it will accrue at the SOFR plus 142 basis points, subject to a floor of 0% and a ceiling of 8% per annum.
The payout at maturity will be par plus any accrued interest.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Fixed-to-floating rate notes
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Amount: | $75 million
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Maturity: | April 17, 2026
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Price: | Par
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Coupon: | 5.5% for first quarter; after that, SOFR plus 142 bps with floor of 0% and a ceiling of 8% per annum, payable quarterly
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Payout at maturity: | Par plus any interest
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Pricing date: | April 12
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Settlement date: | April 17
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Agent: | TD Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 89114X7B3
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