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TD Bank issues US$1.8 billion of Reset Medium Term Notes

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TD Securities Inc.

On July 20, 2007, The Toronto-Dominion Bank (TD) issued $1.8 billion of reset medium term notes. The notes constitute subordinated indebtedness and were issued pursuant to its medium term note program. The reset medium term notes, sold through an agency syndicate led by TD Securities Inc., will pay a coupon of 5.763% until December 18, 2017 and then reset every 5 years to the 5-year Government of Canada yield plus 1.99% thereafter until maturity on December 18, 2106. The notes are redeemable at the TD's option at par on December 18, 2017. TD included the issue as Tier 2A regulatory capital and filed in Canada a pricing supplement to its January 11, 2007 base shelf prospectus and July 12, 2007 prospectus supplement in respect of this issue. Fasken Martineau acted for the agency syndicate with a team that included Richard Steinberg, Mitchell Thaw and student Joanna Gorman.



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