TORONTO, March 28,
2022 /CNW/ - TD Asset Management Inc. ("TDAM")
announced today that it intends to consolidate the units of TD
Canadian Long Term Federal Bond ETF (TCLB) and TD U.S. Long Term
Treasury Bond ETF (TULB) (each, a "TD ETF" and collectively, the
"TD ETFs").
Unit Consolidations
After the close of trading on Thursday,
March 31, 2022, TDAM will consolidate on the Toronto Stock
Exchange (the "TSX") the units of each TD ETF in the ratio of 1 new
unit for 6 existing units. The TD ETFs will begin trading on a
post-consolidated basis on Friday, April 1,
2022, the effective date of the unit consolidations.
When a unit consolidation occurs, the net asset value per unit
is increased by the same ratio as the unit consolidation so that
the unit consolidation has no impact on the value of the
unitholder's total unit position. A unitholder's cost per unit is
also increased by the same ratio as the unit consolidation,
although their total cost remains unchanged.
No fractional units will be issued. Where the consolidation
results in a fractional unit, the number of post-consolidation
units will be rounded down to the nearest whole unit and cash for
the value of the fractional unit will be paid to the unitholder of
the TD ETF.
TDAM reserves the right to cancel or amend the above corporate
action if it deems it appropriate to do so before the effective
date of Friday, April 1, 2022.
Unitholder Information
Unitholders of each TD ETF do not need to take any action to
effect the unit consolidations. Unitholders will have their
brokerage accounts automatically updated to reflect the unit
consolidations. A unitholder's broker may take several days to
reflect the unit consolidations in the unitholder's account (the
"Settlement Period"). However, the unitholder is still able to
trade the securities of the consolidating TD ETFs during this time.
If they wish to do so, TDAM recommends that unitholders contact
their broker by phone during the Settlement Period in order to
trade the post-consolidation units of the TD ETFs.
For more information regarding the TD ETFs, visit
TDAssetManagement.com.
Commissions, management fees and expenses all may be associated
with investments in exchange-traded funds (ETFs). Please read the
prospectus and ETF Facts before investing. ETFs are not guaranteed,
their values change frequently and past performance may not be
repeated. ETF units are bought and sold at market price on a stock
exchange and brokerage commissions will reduce returns.
TD ETFs are managed by TD Asset Management Inc., a wholly-owned
subsidiary of The Toronto-Dominion Bank.
®The TD logo and other TD trademarks are the property
of The Toronto-Dominion Bank or its subsidiaries.
About TD Asset Management
Inc.
TD Asset Management Inc. ("TDAM"), a member of TD Bank Group,
is a North American investment management firm. TDAM offers
investment solutions to corporations, pension funds, endowments,
foundations and individual investors. Additionally, TDAM manages
assets on behalf of almost 2 million retail investors and offers a
broadly diversified suite of investment solutions including mutual
funds, exchange-traded funds, professionally managed portfolios and
corporate class funds. Asset management businesses at TD manage
$453 billion in assets. Aggregate
statistics are as of December 31,
2021 for TDAM and Epoch Investment Partners, Inc. TDAM
operates in Canada and Epoch
Investment Partners, Inc. operates in the
United States. Both entities are affiliates and are
wholly-owned subsidiaries of The Toronto-Dominion Bank.
SOURCE TD Asset Management Inc.