TORONTO, July 16, 2020 /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 7
(Non-Viability Contingent Capital (NVCC)) (the "Series 7 Shares")
will be converted on July 31, 2020
into Non-Cumulative Floating Rate Preferred Shares, Series 8 (NVCC)
(the "Series 8 Shares") of TD.
During the conversion period, which ran from July 2, 2020 to July 16,
2020, 119,697 Series 7 Shares were tendered for conversion
into Series 8 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 7 Shares dated
March 3, 2015. As a result, no Series
8 Shares will be issued on July 31,
2020 and holders of Series 7 Shares will retain their Series
7 Shares.
The Series 7 Shares are currently listed on the Toronto Stock
Exchange under the symbol TD.PF.D. As previously announced on
July 2, 2020, the dividend rate for
the Series 7 Shares for the 5 year period from and including
July 31, 2020 to but excluding
July 31, 2025 will be 3.201%.
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 TD Ameritrade; 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 April 30,
2020. The Toronto-Dominion Bank trades under the symbol "TD"
on the Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group