By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – Toronto-Dominion Bank priced $36.24 million of fixed-to-floating rate notes due Nov. 17, 2026, 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 90 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
|
| Issue: | Fixed-to-floating rate notes
|
| Amount: | $36,236,000
|
| Maturity: | Nov. 17, 2026
|
| Price: | Par
|
| Coupon: | 7% for first four quarters; after that, SOFR plus 90 bps with floor of 0% per annum, payable quarterly
|
| Payout at maturity: | Par plus any interest
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 17
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.51492%
|
| Cusip: | 89114XC84
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
