# New 4.70% TD Bank rate-reset preferred share issued



## InvestingForMe (Sep 6, 2012)

TD Bank has announced a new 4.70% preferred share issue (TD.PF.J) that will begin trading on March 14, 2018. The lead underwriter is TD Securities.

The initial 4.70% annual dividend works out to a 6.29% Interest Rate Equivalent in British Columbia.

Company Press Release


----------



## Brainer (Oct 8, 2015)

Interesting....are they perpetuals? Rate-resets?


----------



## AltaRed (Jun 8, 2009)

The link provided by the OP says 5 year fixed reset 4.7% resetting at 270+GoC5 on Apr 30, 2023 and every 5 years thereafter. A fairly average offering that James Hymas calls expensive http://prefblog.com/?p=36370#comment-194483


----------



## Brainer (Oct 8, 2015)

I have to agree there. It looks overpriced. 

I prefer at this point to keep the perpetuals I bought a while ago, and expect a little price depreciation with rising rates. But I also bought some resets, like SLF.PR.G that I thought were underpriced. And those shares kept rising in price with rising rates. I've done well on the Sun Life, but will keep holding it for a while until I squeeze more out of it.





AltaRed said:


> The link provided by the OP says 5 year fixed reset 4.7% resetting at 270+GoC5 on Apr 30, 2023 and every 5 years thereafter. A fairly average offering that James Hymas calls expensive http://prefblog.com/?p=36370#comment-194483


----------

