By Sarah Lizee
Olympia, Wash., Feb. 14 – Toronto-Dominion Bank priced $200 million of fixed-to-floating rate notes due Feb. 10, 2023 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 1.85% for the first year, then at a rate equal to Libor plus 27 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
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Issue: | Fixed-to-floating rate notes
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Underlying rate: | Libor
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Amount: | $200 million
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Maturity: | Feb. 10, 2023
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Coupon: | Payable quarterly at an annualized rate of 1.85% for first year, then equal to Libor plus 27 bps; floor of zero
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Feb. 5
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Settlement date: | Feb. 10
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Agent: | TD Securities (USA) LLC
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Fees: | 0.4075%
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Cusip: | 89114RDK9
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