Published on 5/10/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $2.61 million floating rate notes tied to SOFR ICE swap rate
By Wendy Van Sickle
Columbus, Ohio, May 10 – Toronto-Dominion Bank priced $2.61 million of floating rate notes due Oct. 28, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon that will accrue at the two-year U.S. Dollar SOFR ICE swap rate plus 125 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 is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Floating rate notes
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Amount: | $2,206,000
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Maturity: | Oct. 28, 2024
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Price: | Par
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Coupon: | Two-year U.S. Dollar SOFR ICE swap rate plus 125 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: | April 26
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Settlement date: | April 28
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Agent: | TD Securities (USA) LLC
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Fees: | 0.68936%
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Cusip: | 89114YW23
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