TORONTO, June 26, 2013 /CNW/ - The Toronto-Dominion Bank ("TD Bank
Group" or "TD") announced today that it does not intend to exercise its
right to redeem all or any part of the currently outstanding 10 million
Non-Cumulative 5-Year Rate Reset Preferred Shares, Series S (the
"Series S Shares") of TD on July 31, 2013. As a result and subject to
certain conditions set out in the prospectus dated May 30, 2008
relating to the issuance of the Series S Shares, the holders of the
Series S Shares have the right to convert all or part of their Series S
Shares, on a one-for-one basis, into Non-Cumulative Floating Rate
Preferred Shares, Series T (the "Series T Shares") of TD on July 31,
2013. Holders who do not exercise their right to convert their Series
S Shares into Series T Shares on such date will continue to hold their
Series S Shares.
The foregoing conversion right is subject to the conditions that: (i) if
TD determines that there would be less than 750,000 Series T Shares
outstanding after July 31, 2013, then holders of Series S Shares will
not be entitled to convert their shares into Series T Shares, and (ii)
alternatively, if TD determines that there would remain outstanding
less than 750,000 Series S Shares after July 31, 2013, then all
remaining Series S Shares will automatically be converted into Series T
Shares on a one-for-one basis on July 31, 2013. In either case, TD will
give written notice to that effect to holders of Series S Shares no
later than July 24, 2013.
The dividend rate applicable to the Series S Shares for the 5-year
period from and including July 31, 2013 to but excluding July 31, 2018,
and the dividend rate applicable to the Series T Shares for the 3-month
period from and including July 31, 2013 to but excluding October 31,
2013, will be determined and announced by way of a press release on
July 2, 2013.
Beneficial owners of Series S Shares who wish to exercise their
conversion right should communicate as soon as possible with their
broker or other nominee to obtain instructions for exercising such
right on or prior to the deadline for exercise, which is 5:00 p.m.
(Toronto time) on July 16, 2013.
Inquiries should be directed to TD's Registrar and Transfer Agent, CIBC
Mellon Trust Company*, at 1-800-387-0825 (or in Toronto 416-682-3860).
* Canadian Stock Transfer Company Inc. acts as administrative agent for
CIBC Mellon Trust Company
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Group (TD). TD is the sixth largest bank in North America by
branches and serves approximately 22 million customers in four key
businesses operating in a number of locations in key financial centres
around the globe: Canadian Personal and Commercial Banking, including
TD Canada Trust and TD Auto Finance Canada; Wealth and Insurance,
including TD Wealth, TD Direct Investing, an investment in TD
Ameritrade, and TD Insurance; U.S. Personal and Commercial Banking,
including TD Bank, America's Most Convenient Bank and TD Auto Finance
U.S.; and Wholesale Banking, including TD Securities. TD also ranks
among the world's leading online financial services firms, with
approximately 8 million active online and mobile customers. TD had
CDN$826 billion in assets on April 30, 2013. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock
Exchanges.
SOURCE: TD Bank Group
