{"id":41143,"date":"2020-07-17T23:56:01","date_gmt":"2020-07-18T04:56:01","guid":{"rendered":"http:\/\/prefblog.com\/?p=41143"},"modified":"2020-07-17T23:56:01","modified_gmt":"2020-07-18T04:56:01","slug":"td-pf-d-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=41143","title":{"rendered":"TD.PF.D : No Conversion To FloatingReset"},"content":{"rendered":"<p>The Toronto-Dominion Bank <a href=\"http:\/\/td.mediaroom.com\/2020-07-16-TD-Announces-Results-of-Conversion-Privilege-of-Non-Cumulative-5-Year-Rate-Reset-Preferred-Shares-Series-7-NVCC\">has announced<\/a>:<\/p>\n<blockquote><p>that none of its 14 million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 7 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Series 7 Shares&#8221;) will be converted on July 31, 2020 into Non-Cumulative Floating Rate Preferred Shares, Series 8 (NVCC)  (the &#8220;Series 8 Shares&#8221;) of TD.<\/p>\n<p>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.<\/p>\n<p>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%.<\/p><\/blockquote>\n<p>TD.PF.D is a FixedReset, 3.60%+279, that <a href=\"http:\/\/prefblog.com\/?p=28185\">commenced trading 2015-3-10<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=28009\">announced 2015-2-27<\/a>. Notice of extension was <a href=\"http:\/\/prefblog.com\/?p=41064\">provided on 2020-6-18<\/a>. The issue will <a href=\"http:\/\/prefblog.com\/?p=41069\">reset at 3.201%<\/a> effective 2020-7-31. The issue is NVCC-compliant, 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: that none of its 14 million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 7 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Series 7 Shares&#8221;) will be converted on July 31, 2020 into &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-41143","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41143","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=41143"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41143\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}