The Toronto-Dominion Bank has announced:
that it will exercise its right to redeem all of its 28,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class A First Preferred Shares, Series 12 (Non-Viability Contingent Capital) (the “Series 12 Shares”) on April 30, 2021 at the price of $25.00 per Series 12 Share for an aggregate total of approximately $700 million.
On February 25, 2021, TD announced that dividends of $0.34375 per Series 12 Share had been declared. These will be the final dividends on the Series 12 Shares, and will be paid in the usual manner on April 30, 2021 to shareholders of record on April 9, 2021, as previously announced. After April 30, 2021, the Series 12 Shares will cease to be entitled to dividends and the only remaining rights of holders of such shares will be to receive payment of the redemption amount.
Beneficial holders who are not directly the registered holder of Series 12 Shares should contact the financial institution, broker or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds. Inquiries should be directed to our Registrar and Transfer Agent, AST Trust Company (Canada), at 1-800-387-0825 (or in Toronto 416-682-3860).
TD.PF.G is a FixedReset, 5.50%+466, NVCC-compliant issue that commenced trading 2016-1-14 after being announced 2016-1-5.
Thanks to Assiduous Reader CanSiamCyp for ensuring I did not miss this!
Hi james. There is apparently the opportunity to receive a series 13 share for each series 12. Apparently the series 13 is a floater at tbill+4.66%. surely this would be called as well.