TORONTO, Oct. 19,
2022 /CNW/ - The Toronto-Dominion Bank ("TD
Bank Group" or "TD") announced today that none of its 14 million
Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 16
(Non-Viability Contingent Capital (NVCC)) (the "Series 16 Shares")
will be converted on October 31, 2022
into Non-Cumulative Floating Rate Preferred Shares, Series 17
(NVCC) (the "Series 17 Shares") of TD.
During the conversion period, which ran from October 3, 2022 to October
17, 2022, 131,188 Series 16 Shares were tendered for
conversion into Series 17 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 16 Shares
dated July 7, 2017. As a result, no
Series 17 Shares will be issued on October
31, 2022 and holders of Series 16 Shares will retain their
Series 16 Shares.
The Series 16 Shares are currently listed on the Toronto Stock
Exchange under the symbol TD.PF.I. As previously announced on
October 3, 2022, the dividend rate
for the Series 16 Shares for the 5-year period from and including
October 31, 2022 to but excluding
October 31, 2027 will be 6.301%.
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 more
than 27 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 15 million active online and mobile
customers. TD had CDN$1.8 trillion in assets on July
31, 2022. The Toronto-Dominion Bank trades under the symbol "TD" on
the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group
