By Sarah Lizee
Olympia, Wash., Jan. 30 – Toronto-Dominion Bank priced $50 million of fixed-to-floating notes due Feb. 1, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% for the first year. After that, the rate will be equal to Libor plus 62 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.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $50 million
|
| Maturity: | Feb. 1, 2021
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Coupon: | 3% for the first year; after that, equal to Libor plus 62 bps, subject to a 0% floor; payable quarterly
|
| Call option: | Non-callable
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 30
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.185%
|
| Cusip: | 89114QA32
|
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