Toronto-Dominion Bank resets C$1.75B notes to 6.281%

Interest remains payable semi-annually on April 30 and October 31, with the first payment occurring on April 30, 2027.

Available on EDGAR 11/02/2026 - 06:05 AM EST Accepted by SEC EDGAR 10/30/2026 - 06:55 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

The Toronto-Dominion Bank announced that the annual interest rate on its C$1.75 billion of Series 1 Limited Recourse Capital Notes will be 6.281% for the five-year period beginning October 31, 2026. The rate applies from October 31, 2026 through, but excluding, October 31, 2031, and is calculated as the Government of Canada Yield determined October 30, 2026, plus 2.747%.

The notes are scheduled to mature on October 31, 2081. In connection with their issuance, TD also issued 1,750,000 Series 26 preferred shares, held by Computershare Trust Company of Canada as trustee for TD LRCN Limited Recourse Trust. If interest or principal is not paid when due, holders’ recourse is limited to their proportionate share of the trust’s assets, except in limited circumstances.

Filing Explained

Although the notes are scheduled to mature in 2081, TD may redeem them in whole or in part starting October 31, 2031, and every five years thereafter, subject to prior written approval from Canada’s Superintendent of Financial Institutions and 15–60 days’ notice.

Key Figures

Series 1 LRCN principal: C$1.75 billion Reset annual interest rate: 6.281% per annum Rate spread: 2.747% +3 more

6 metrics

Series 1 LRCN principal C$1.75 billion Limited Recourse Capital Notes, Series 1

Reset annual interest rate 6.281% per annum October 31, 2026 through, but excluding, October 31, 2031

Rate spread 2.747% Added to the Government of Canada Yield determined October 30, 2026

Series 26 preferred shares issued 1,750,000 shares Issued in connection with the LRCNs

Scheduled maturity October 31, 2081 Series 1 LRCNs

Redemption notice period 15 to 60 days Prior notice to LRCN holders

Key Terms

Limited Recourse Capital Notes, Non-Viability Contingent Capital, Subordinated Indebtedness, Limited Recourse Trust, +1 more

5 terms

Limited Recourse Capital Notes financial

"Limited Recourse Capital Notes Series 1"

Limited recourse capital notes are debt-like securities where repayment and investor claims are restricted to the cash flows or assets tied to a specific pool, project, or collateral; holders cannot pursue the issuer’s other assets if those designated sources fail. For investors this usually means higher potential yield but greater risk—think of lending money secured only by a single rental property’s rent rather than the borrower’s entire balance sheet, so returns depend on that asset’s performance.

Non-Viability Contingent Capital regulatory

"Non-Viability Contingent Capital (NVCC)"

Subordinated Indebtedness financial

"NVCC) (Subordinated Indebtedness)"

Debt that carries lower priority for repayment than other borrowings, meaning holders are paid only after higher‑priority creditors are made whole if the borrower runs into financial trouble; think of it as standing at the back of a queue at a checkout. It matters to investors because it usually carries higher interest to compensate for greater risk, affects how much creditors recover in default, and influences a borrower’s overall credit profile and cost of borrowing.

Limited Recourse Trust financial

"TD LRCN Limited Recourse Trust"

Government of Canada Yield financial

"Government of Canada Yield determined as of October 30, 2026"

The Government of Canada yield is the annual return investors receive from lending money to the Canadian federal government through its bonds and treasury notes; it’s shown as a percentage and moves as buyers and sellers trade those securities. Investors use it like a baseline interest rate—similar to a bank’s advertised savings rate—for valuing other investments, setting borrowing costs and gauging overall economic confidence, because government bonds are seen as very low-risk.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is TD's reset interest rate for its Series 1 LRCNs?

The annual interest rate is 6.281% for the period from October 31, 2026 through, but excluding, October 31, 2031. It is calculated as the Government of Canada Yield determined October 30, 2026, plus 2.747%.

When does TD pay interest on its Series 1 LRCNs?

Interest is payable semi-annually on April 30 and October 31. The first payment under the announced rate period is scheduled for April 30, 2027.

When can TD redeem its Series 1 LRCNs?

With the prior written approval of the Superintendent of Financial Institutions (Canada), TD may redeem the notes beginning October 31, 2031, and every five years thereafter, during the period from October 1 through October 31. TD may redeem all or part on not less than 15 days’ and not more than 60 days’ prior notice to holders.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of October, 2026. Commission File Number: 001-14446

The Toronto-Dominion Bank

(Translation of registrant's name into English)

c/o General Counsel’s Office

P.O. Box 1, Toronto Dominion Centre,

Toronto, Ontario, M5K 1A2

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F _________ Form 40-F          √         

This Form 6-K and the exhibits hereto are incorporated by reference into all outstanding Registration Statements of The Toronto-Dominion Bank filed with the U.S. Securities and Exchange Commission.  

EXHIBIT INDEX

Exhibit		Description
99.1		Press Release dated October 30, 2026 - TD Announces Interest Rate Reset on CAD Limited Recourse Capital Notes, Series 1

FORM 6-K

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	THE TORONTO-DOMINION BANK
DATE: October 30, 2026	By:	/s/ Sue-Anne Fox
		Name:	Sue-Anne Fox
		Title:	Associate Vice President, Legal, Treasury and Corporate Securities

 EXHIBIT 99.1

TD Announces Interest Rate Reset on
CAD Limited Recourse Capital Notes, Series 1

TORONTO, October 30, 2026 /CNW/ - The Toronto-Dominion Bank ("TD") (TSX: TD) (NYSE: TD) today announced the interest rate for its C$1.75 billion of 3.600% Limited Recourse Capital Notes Series 1 (Non-Viability Contingent Capital (“NVCC”)) (Subordinated Indebtedness) (the “LRCNs”) for the five-year period commencing on October 31, 2026.

In accordance with the terms of the trust indenture dated July 29, 2021 (the “Indenture”), the interest rate on the LRCNs for the period from, and including, October 31, 2026 to, but excluding, October 31, 2031, will be 6.281% per annum.

The interest rate was calculated as the sum of the Government of Canada Yield (as defined in the Indenture) determined as of October 30, 2026, plus 2.747%. Interest on the LRCNs will continue to be payable semi-annually on April 30 and October 31, with the first such payment occurring on April 30, 2027. The LRCNs are scheduled to mature on October 31, 2081.

In connection with the issuance of the LRCNs, TD also issued 1,750,000 Non-Cumulative 5-Year Fixed Rate Reset NVCC Preferred Shares, Series 26 ("Preferred Shares Series 26") held by Computershare Trust Company of Canada, as trustee for TD LRCN Limited Recourse Trust™ (the “Limited Recourse Trust”). In case of non-payment of interest on or principal of the LRCNs when due, the recourse of each LRCN holder will be limited to that holder’s proportionate share of the Limited Recourse Trust’s assets, which will consist of Preferred Shares Series 26, except in limited circumstances. The LRCNs and the Preferred Shares Series 26 were issued pursuant to a prospectus supplement dated July 23, 2021 to TD’s short form base shelf prospectus dated January 4, 2021.

With the prior written approval of the Superintendent of Financial Institutions (Canada), TD may redeem the LRCNs commencing on October 31, 2031, and every five years thereafter, during the period from and including October 1 to and including October 31. TD may redeem the LRCNs in whole or in part on not less than 15 days' and not more than 60 days’ prior notice to the LRCN holders.

For more information, the prospectus supplement dated July 23, 2021 is available on TD’s website and TD’s SEDAR+ profile at www.sedarplus.ca.

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 assets and serves 28.2 million clients in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Banking, including TD Auto Finance U.S. and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among North America's leading digital banks, with more than 14 million active mobile users in Canada and the U.S. TD had $2.1 trillion in assets on July 31, 2026. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.

SOURCE TD Bank Group

For further information:
Brooke Hales, Senior Vice President, Investor Relations, 416-307-8647; Gabrielle Sukman, Senior Manager, Corporate and Public Affairs, 416-983-1854

Filing Exhibits & Attachments

1 document

Press Releases

• EX-991 PRESS RELEASE DATED OCTOBER 30, 2026 6.0 KB