TORONTO, May 19, 2020 /CNW/ - The Toronto-Dominion
Bank ("TD Bank Group" or "TD") announced today that it intends to
exercise its right to redeem on June 24,
2020 (the "Redemption Date"), all of its outstanding
$1.5 billion 2.692% medium term notes
due June 24, 2025 (non-viability
contingent capital (NVCC)) constituting subordinated indebtedness
of TD (the "Subordinated Notes"), at a redemption price of 100 per
cent of the principal amount, plus accrued and unpaid interest to,
but excluding, the Redemption Date.
Notice will be delivered to the holders of the Subordinated
Notes in accordance with the terms thereof. Interest on the
Subordinated Notes will cease to accrue on and after the Redemption
Date. Subordinated Notes redeemed by the Bank will be
cancelled and will not be reissued.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the sixth
largest bank in North America by
branches and serves over 26 million customers in three key
businesses operating in a number of locations in financial centres
around the globe: Canadian Retail, including TD Canada Trust, TD
Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD
Insurance; U.S. Retail, including TD Bank, America's Most
Convenient Bank®, TD Auto Finance U.S., TD Wealth
(U.S.), and an investment in TD Ameritrade; and Wholesale Banking,
including TD Securities. TD also ranks among the world's
leading online financial services firms, with more than 13 million
active online and mobile customers. TD had $1.5 trillion in assets on January 31, 2020. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group