TD.PR.S / TD.PR.T Conversion Results Announced

TD Bank has announced:

that 4,612,509 of its 10 million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series S (the “Series S Shares”) will be converted on July 31, 2013, on a one-for-one basis, into Non-Cumulative Floating Rate Preferred Shares, Series T (the “Series T Shares”) of TD. As a result, on July 31, 2013, TD will have 5,387,491 Series S Shares and 4,612,509 Series T Shares issued and outstanding. The Series S Shares and the Series T Shares will be listed on the Toronto Stock Exchange under the symbols TD.PR.S and TD.PR.T, respectively.

TD.PR.S will reset at 3.371%. I had recommended conversion into the FloatingResets.

One Response to “TD.PR.S / TD.PR.T Conversion Results Announced”

  1. […] Both issues are tracked by HIMIPref™ and both are assigned to the FixedReset subindex; TD.PR.T will be assigned to a new FloatingReset index as soon as enough of these issues are outstanding to make such and index meaningful. As announced by TD Bank and reported on PrefBlog, slightly more TD.PR.S shares are outstanding. […]

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