By Marisa Wong
Morgantown, W.Va., Feb. 20 – Toronto-Dominion Bank priced $6.5 million of additional capped fixed-to-floating notes due Feb. 15, 2023, according to a 424B3 filing with the Securities and Exchange Commission.
This brings the total deal size to $16.5 million. The issuer priced the initial $10 million of the notes on Feb. 8.
The interest rate will be 2.6% for the first two years. After that, the interest will be Libor plus 40 basis points, subject to a 4% cap and a 0% floor. Interest will be payable quarterly.
The payout at maturity will be par.
The notes are non-callable.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Capped fixed-to-floating notes
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Amount: | $16.5 million (increased from $10 million)
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Maturity: | Feb. 15, 2023
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Coupon: | 2.6% for the first two years; after that, Libor plus 40 bps, with a 4% cap and 0% floor; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | Non-callable
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Pricing date: | Feb. 8 for $10 million, Feb. 9 for $6.5 million
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Settlement date: | Feb. 15
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Agent: | TD Securities (USA) LLC
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Fees: | 1.21% for $10 million, 1.147% for $6.5 million
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Cusip: | 89114QLD8
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