TORONTO, Oct. 16, 2020 /CNW/ - The Toronto-Dominion Bank
("TD Bank Group" or "TD") announced today that none of its 8
million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 9
(Non-Viability Contingent Capital (NVCC)) (the "Series 9 Shares")
will be converted on November 2, 2020
(being the first business day following the conversion date of
October 31, 2020) into Non-Cumulative
Floating Rate Preferred Shares, Series 10 (NVCC) (the "Series
10 Shares") of TD.
During the conversion period, which ran from October 1, 2020 to October
16, 2020, 52,872 Series 9 Shares were tendered for
conversion into Series 10 Shares, which is less than the minimum
1,000,000 shares required to give effect to the conversion, as
described in the prospectus supplement for the Series 9 Shares
dated April 17, 2015. As a result, no
Series 10 Shares will be issued on November
2, 2020 and holders of Series 9 Shares will retain their
Series 9 Shares.
The Series 9 Shares are currently listed on the Toronto Stock
Exchange under the symbol TD.PF.E. As previously announced on
October 1, 2020, the dividend rate
for the Series 9 Shares for the 5 year period from and including
October 31, 2020 to but excluding
October 31, 2025 will be 3.242%.
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
branches and serves over 26 million customers in three key
businesses operating in a number of locations in financial centres
around the globe: Canadian Retail, including TD Canada Trust, TD
Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD
Insurance; U.S. Retail, including TD Bank, America's Most
Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an
investment in The Charles Schwab Corporation; and Wholesale
Banking, including TD Securities. TD also ranks among the world's
leading online financial services firms, with more than 14 million
active online and mobile customers. TD had CDN$1.7 trillion in assets on July 31, 2020. The Toronto-Dominion Bank trades
under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group
