TD Bank to price fixed-to-floaters due 2023 with 3.25% initial rate

By Sarah Lizee

Olympia, Wash., April 11 – Toronto-Dominion Bank plans to price fixed-to-floating notes due April 27, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3.25% for the first two years. After that, the rate will be equal to Libor plus 40 basis points, subject to a 0% floor. Interest will be payable quarterly.

The payout at maturity will be par.

TD Securities (USA) LLC is the agent.

The notes will price on April 24 and settle on April 27.

The Cusip number is 89114QMM7.

© 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.