The Toronto-Dominion Bank has announced:
that 4,518,147 of its 10 million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series Y (the “Series Y Shares”) will be converted on October 31, 2013, on a one-for-one basis, into Non-Cumulative Floating Rate Preferred Shares, Series Z (the “Series Z Shares”) of TD. As a result, on October 31, 2013, TD will have 5,481,853 Series Y Shares and 4,518,147 Series Z Shares issued and outstanding. The Series Y Shares and the Series Z Shares will be listed on the Toronto Stock Exchange under the symbols TD.PR.Y and TD.PR.Z, respectively.
TD.PR.Y will reset at 3.5595%. I recommended conversion to TD.PR.Z.