TORONTO, Oct. 16, 2019 /CNW/ - The Toronto-Dominion Bank
("TD Bank Group" or "TD") announced today that none of its 20
million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 1
(Non-Viability Contingent Capital (NVCC)) (the "Series 1 Shares")
will be converted on October 31, 2019
into Non-Cumulative Floating Rate Preferred Shares, Series 2 (NVCC)
(the "Series 2 Shares") of TD.
During the conversion period, which ran from October 1, 2019 to October
16, 2019, 230,894 Series 1 Shares were tendered for
conversion into Series 2 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 1 Shares
dated May 28, 2014. As a result, no
Series 2 Shares will be issued on October
31, 2019 and holders of Series 1 Shares will retain their
Series 1 Shares.
The Series 1 Shares are currently listed on the Toronto Stock
Exchange under the symbol TD.PF.A. As previously announced on
October 1, 2019, the dividend rate
for the Series 1 Shares for the 5-year period from and including
October 31, 2019 to but excluding
October 31, 2024 will be 3.662%.
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 fifth
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 TD Ameritrade; and Wholesale Banking, including TD
Securities. TD also ranks among the world's leading online
financial services firms, with more than 13 million active online
and mobile customers. TD had CDN$1.4
trillion in assets on July 31,
2019. The Toronto-Dominion Bank trades under the symbol "TD"
on the Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group