{"id":50915,"date":"2019-10-17T22:17:00","date_gmt":"2019-10-18T02:17:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50915"},"modified":"2025-11-21T22:18:32","modified_gmt":"2025-11-22T03:18:32","slug":"td-pf-a-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50915","title":{"rendered":"TD.PF.A : No Conversion To FloatingReset"},"content":{"rendered":"<p>The Toronto-Dominion Bank <a href=\"http:\/\/td.mediaroom.com\/2019-10-16-TD-Announces-Results-of-Conversion-Privilege-of-Non-Cumulative-5-Year-Rate-Reset-Preferred-Shares-Series-1-NVCC\">has announced<\/a>:<\/p>\n<blockquote><p>that none of its 20 million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 1 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Series 1 Shares&#8221;) will be converted on October 31, 2019 into Non-Cumulative Floating Rate Preferred Shares, Series 2 (NVCC) (the &#8220;Series 2 Shares&#8221;) of TD.<\/p>\n<p>During the conversion period, which ran from October 1, 2019 to October 16, 2019, 230,894 Series 1 Shares were tendered for conversion into Series 2 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 1 Shares dated May 28, 2014. As a result, no Series 2 Shares will be issued on October 31, 2019 and holders of Series 1 Shares will retain their Series 1 Shares.<\/p>\n<p>The Series 1 Shares are currently listed on the Toronto Stock Exchange under the symbol TD.PF.A. As previously announced on October 1, 2019, the dividend rate for the Series 1 Shares for the 5-year period from and including October 31, 2019 to but excluding October 31, 2024 will be 3.662%<\/p>\n<\/blockquote>\n<p>TD.PF.A is a FixedReset, 3.90%+224, NVCC-compliant issue that <a href=\"http:\/\/prefblog.com\/?p=25468\">commenced trading 2014-6-4<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=25348\">announced 2014-5-26<\/a>. <a href=\"http:\/\/prefblog.com\/?p=39603\">TD.PF.A will reset at 3.662%<\/a> effective October 31, 2019. I <a href=\"http:\/\/prefblog.com\/?p=39625\">recommended against conversion<\/a>. It is tracked by HIMIPref&trade; and is assigned to the FixedReset &#8211; Discount subindex.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Toronto-Dominion Bank has announced: that none of its 20 million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 1 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Series 1 Shares&#8221;) will be converted on October 31, 2019 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-50915","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50915","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=50915"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50915\/revisions"}],"predecessor-version":[{"id":50916,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50915\/revisions\/50916"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}