Toronto-Dominion Bank plans to re-enter structured products market

By Angela McDaniels

Tacoma, Wash., Aug. 1 – Toronto-Dominion Bank registered to sell structured products in a 424B5 filing with the Securities and Exchange Commission on Friday.

The registration covers accrual notes, fixed-rate notes, step-up notes, floating-rate notes, fixed-to-floating-rate notes, floating-to-fixed-rate notes, inverse floating-rate notes, leveraged notes, range accrual notes, dual range accrual notes, non-inversion range accrual notes and leveraged steepener notes.

The last time the bank was in the registered structured product market was in November 2006 when it priced $680,000 of 11% notes due Nov. 28, 2007 linked to the common stock of Las Vegas Sands Corp.

The notes paid par unless the final share price was less than the initial share price and the stock fell below the limit price, 70% of the initial share price, during the life of the notes, in which case the payout was 10.9051 Las Vegas Sands shares or, at the issuer’s option, a cash amount equal to the value of those notes. The payout was subject to a minimum of 1% of par.

TD Securities (USA) LLC was the agent.

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