TORONTO, Feb. 12,
2025 /CNW/ - TD Bank Group ("TD" or the "Bank") (TSX:
TD) (NYSE: TD) today announced the closing of the sale of its
entire equity investment in The Charles Schwab Corporation
("Schwab") (NYSE: SCHW), consisting of 184,678,738 shares of
Schwab's common stock representing 10.1% economic ownership. The
Bank sold 165,443,530 shares through a registered offering at a
price of US$79.25 per share, and
Schwab repurchased 19,235,208 shares from TD for a total purchase
price of US$1.5 billion.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Schwab has filed a registration statement (including a
prospectus) with the U.S. Securities and Exchange Commission
("SEC") for the offering to which this communication relates.
Before you invest, you should read the prospectus in that
registration statement and other documents Schwab has filed with
the SEC, including the prospectus supplement dated February 10, 2025, for more complete information
about Schwab and this offering. You may get electronic copies of
these documents for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, copies of the prospectus supplement and
accompanying prospectus may be obtained from: TD Securities
(USA) LLC, 1 Vanderbilt Avenue,
New York, NY 10017, telephone: 1
(855) 495-9846 or by email at TD.ECM_Prospectus@tdsecurities.com;
or (ii) Goldman Sachs & Co. LLC, Attn: Prospectus Department,
200 West Street, New York, NY
10282, telephone: 1 (866) 471-2526, facsimile: (212) 902-9316 or by
email at Prospectus-ny@ny.email.gs.com.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the sixth
largest bank in North America by assets and serves over
27.9 million customers in four key businesses operating in a number
of locations in financial centres around the globe: Canadian
Personal and Commercial Banking, including TD Canada Trust and TD
Auto Finance Canada; U.S. Retail, including TD Bank, America's Most
Convenient Bank®, TD Auto Finance U.S., and TD Wealth (U.S.);
Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD
Insurance; and Wholesale Banking, including TD Securities and TD
Cowen. TD also ranks among the world's leading online financial
services firms, with more than 17 million active online and mobile
customers. TD had $2.06 trillion in
assets on October 31, 2024. The
Toronto-Dominion Bank trades under the symbol "TD" on the
Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group
