By Wendy Van Sickle
Columbus, Ohio, Sept. 19 – Toronto-Dominion Bank priced $15 million of SOFR to SOFR ICE swap rate floating-rate notes due Sept. 15, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be compounded SOFR plus 108 bps for the first six years and six months, then it will convert to the two-year U.S. Dollar SOFR ICE swap rate plus 108 bps, subject, in each case, to a minimum interest rate of 0%. Interest is payable quarterly.
The payout at maturity will be par.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | SOFR to SOFR ICE swap rate floating-rate notes
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| Amount: | $15 million
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| Maturity: | Sept. 15, 2028
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| Coupon: | SOFR plus 108 bps for first six years and six months, then two-year U.S. Dollar SOFR ICE swap rate plus 108 bps, floor of 0%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Sept. 13
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| Settlement date: | Sept. 15
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.15%
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| Cusip: | 89115FBU4
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