{"id":40157,"date":"2020-01-20T22:48:31","date_gmt":"2020-01-21T03:48:31","guid":{"rendered":"http:\/\/prefblog.com\/?p=40157"},"modified":"2020-01-20T22:48:31","modified_gmt":"2020-01-21T03:48:31","slug":"td-pf-c-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=40157","title":{"rendered":"TD.PF.C : No Conversion To FloatingReset"},"content":{"rendered":"<p>The Toronto-Dominion Bank <a href=\"http:\/\/td.mediaroom.com\/2020-01-16-TD-Announces-Results-of-Conversion-Privilege-of-Non-Cumulative-5-Year-Rate-Reset-Preferred-Shares-Series-5-NVCC\">has announced<\/a> (on January 16):<\/p>\n<blockquote><p> that none of its 20 million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 5 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Series 5 Shares&#8221;) will be converted on January 31, 2020 into Non-Cumulative Floating Rate Preferred Shares, Series 6 (NVCC)  (the &#8220;Series 6 Shares&#8221;) of TD.<\/p>\n<p>During the conversion period, which ran from January 2, 2020 to January 16, 2020, 168,856 Series 5 Shares were tendered for conversion into Series 6 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 5 Shares dated December 9, 2014. As a result, no Series 6 Shares will be issued on January 31, 2020 and holders of Series 5 Shares will retain their Series 5 Shares.<\/p>\n<p>The Series 5 Shares are currently listed on the Toronto Stock Exchange under the symbol TD.PF.C. As previously announced on January 2, 2020, the dividend rate for the Series 5 Shares for the 5 year period from and including January 31, 2020 to but excluding January 31, 2025 will be 3.876%.<\/p><\/blockquote>\n<p>TD.PF.C is a FixedReset, 3.75%+225, that <a href=\"http:\/\/prefblog.com\/?p=27181\">commenced trading 2014-12-16<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=27056\">announced 2014-12-5<\/a>. Notice of <a href=\"http:\/\/prefblog.com\/?p=40007\">extension<\/a> was reported in December, 2019. <a href=\"http:\/\/prefblog.com\/?p=40062\">TD.PF.C will reset at 3.876%<\/a> effective January 31, 2020. I <a href=\"http:\/\/prefblog.com\/?p=40110\">recommended against conversion<\/a>. TD.PF.C is tracked by HIMIPref&trade; and is assigned to the FixedReset-Discount subindex.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Toronto-Dominion Bank has announced (on January 16): that none of its 20 million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 5 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Series 5 Shares&#8221;) will be converted on January &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-40157","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40157"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40157\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}