New Issue: TD Bank prices $14.29 million fixed-to-floating rate notes based on ICE swap rate

By Wendy Van Sickle

Columbus, Ohio, July 11 – Toronto-Dominion Bank priced $14.29 million of fixed-to-floating rate notes due Feb. 28, 2025, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly fixed coupon at 5.75% per year for the first two quarterly interest periods.

After that, interest will be at the two-year U.S. dollar SOFR ICE swap rate plus 100 basis points, with a 0% floor.

The payout at maturity will be par plus any accrued interest.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Fixed-to-floating rate notes
Amount:	$14,289,000
Maturity:	Feb. 28, 2025
Price:	Par
Coupon:	5.75% for the first two quarterly interest periods; after that, two-year U.S. dollar SOFR ICE swap rate plus 100 bps, with a 0% floor
Payout at maturity:	Par plus any interest
Pricing date:	Feb. 23, 2023
Settlement date:	Feb. 28, 2023
Underwriter:	TD Securities (USA) LLC
Fees:	0.4904%
Cusip:	89114YQJ3

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