By Angela McDaniels
Tacoma, Wash., July 30 – Toronto-Dominion Bank priced $350 million of fixed-to-floating rate notes due July 30, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.7% per year for the first six months. After that, the interest rate will be Libor plus 30 basis points, subject to a minimum of zero. Interest is payable quarterly.
The payout at maturity will be par.
BofA Securities, Inc. and TD Securities (USA) LLC are the underwriters.
The bank and financial services company is based in Toronto.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Fixed-to-floating rate notes, series D
|
| Amount: | $350 million
|
| Maturity: | July 30, 2021
|
| Underwriters: | BofA Securities, Inc. and TD Securities (USA) LLC
|
| Coupon: | 2.7% per year for first six months; after that, Libor plus 30 bps, subject to minimum of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | July 26
|
| Settlement date: | July 30
|
| Fees: | 0.372%
|
| Cusip: | 89114Q3V8
|
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