TD Bank plans to price fixed-to-floaters with 2.75% initial rate

By Sarah Lizee

Olympia, Wash., July 10 – Toronto-Dominion Bank plans to price fixed-to-floating notes due July 22, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2.75% for the first year. After that, the rate will be equal to Libor plus 35 basis points, subject to a 0% floor. Interest will be payable quarterly.

The payout at maturity will be par.

TD Securities (USA) LLC and BofA Securities, Inc. are the agents.

The notes will price on July 15.

The Cusip number is 89114Q3J5.

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