TD Extendible Note | Page 2 | Investing | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
TD Extendible Note
March 27, 2023
1:27 pm
kesa
Member
Members
Forum Posts: 234
Member Since:
February 14, 2023
sp_UserOfflineSmall Offline

new today 5.00% CAD

Screenshot-2023-03-27-at-4.25.56-PM.png

March 28, 2023
9:10 am
Rail Baron
Member
Members
Forum Posts: 319
Member Since:
November 3, 2022
sp_UserOfflineSmall Offline

kesa said
new today 5.00% CAD

Screenshot-2023-03-27-at-4.25.56-PM.png  

There does not seem to be any step up in this Step-Up note. 5% in year one, and 5% in year two, if they don't call the note. Is that really a step up?

March 28, 2023
11:01 am
savemoresaveoften
Member
Members
Forum Posts: 2981
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

Rail Baron said

There does not seem to be any step up in this Step-Up note. 5% in year one, and 5% in year two, if they don't call the note. Is that really a step up?  

Its extendible, which is legally different from callable, even tho the economics are the same if it ends up being 2y total term anyway 🙂
Its a step up in term not rates. they should have done it as 4.95% extendable 5.05% year2. That makes it look optically better from a step up perspective.

March 28, 2023
11:06 am
kesa
Member
Members
Forum Posts: 234
Member Since:
February 14, 2023
sp_UserOfflineSmall Offline

this offer is now gone.

March 28, 2023
11:28 am
Rail Baron
Member
Members
Forum Posts: 319
Member Since:
November 3, 2022
sp_UserOfflineSmall Offline

kesa said
this offer is now gone.  

I guess TD stepped out of this step-up note, which did not include any step up. sf-wink

March 28, 2023
4:23 pm
hwyc
GTA
Member
Members
Forum Posts: 1261
Member Since:
September 30, 2017
sp_UserOnlineSmall Online

I suspect they are gone when it's sold out. The previous US issue was gone before the settlement date as well.

April 24, 2023
4:15 pm
kesa
Member
Members
Forum Posts: 234
Member Since:
February 14, 2023
sp_UserOfflineSmall Offline

new today $CAD 5.02%. A 1-year extendible senior note paying coupons semi-annually, extendible semi-annually at TD’s option to a maximum term of 5 years (the “Notes”).Screenshot-2023-04-24-at-7.14.40-PM.png

May 23, 2023
2:11 pm
hwyc
GTA
Member
Members
Forum Posts: 1261
Member Since:
September 30, 2017
sp_UserOnlineSmall Online

New Issues under Trading on TDDI - TD Bank *Semi-Annual Pay* Step Up Extendible Notes June 2, 2024 to June 2, 2028

Year Rate
1 5.20%
2 5.35%
3 5.50%
4 5.65%
5 6.00%

Settlement date June 2, 2023

May 23, 2023
2:18 pm
kesa
Member
Members
Forum Posts: 234
Member Since:
February 14, 2023
sp_UserOfflineSmall Offline

Trying to buy this last issue.

May 24, 2023
11:59 am
pigeon
Newbie
Members
Forum Posts: 2
Member Since:
May 24, 2023
sp_UserOfflineSmall Offline

I don't have the prospectus but wondering how a non extension is handled? Is it a cash out on the particular date or does TD force you into a GIC for the remainder of the 5 year period?

May 25, 2023
6:08 am
Norman1
Member
Members
Forum Posts: 7162
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

The detailed info about their notes, including their interest rate notes, is at TD Structured notes.

May 25, 2023
10:56 am
pigeon
Newbie
Members
Forum Posts: 2
Member Since:
May 24, 2023
sp_UserOfflineSmall Offline

Toying with what would be the better investment at this time; the 5 year extendible step up note at issuers option as offered above through TD, or a provincial 10 year bond yielding a little over 4%.

May 29, 2023
11:50 am
hwyc
GTA
Member
Members
Forum Posts: 1261
Member Since:
September 30, 2017
sp_UserOnlineSmall Online

New Issues on TDDI: TD Bank C$ Extendible Notes 5.38%, payable semi-annually.

Term: 1-year, Extendible to 2 years
Settlement Date: June 8, 2023

May 30, 2023
9:00 am
Rail Baron
Member
Members
Forum Posts: 319
Member Since:
November 3, 2022
sp_UserOfflineSmall Offline

Are these extendible step up notes available through TD Easy Trade? Or only through the fee based TDDI?

May 30, 2023
5:54 pm
Norman1
Member
Members
Forum Posts: 7162
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

According to What can I buy, sell, and hold in TD Easy Trade?, TD Easy Trade only handles TD exchange-traded funds, stocks (common and preferred shares), and American Depository receipts.

Fixed income securities, like bonds and debentures, GIC's, and mutual funds are excluded.

May 31, 2023
8:32 am
Rail Baron
Member
Members
Forum Posts: 319
Member Since:
November 3, 2022
sp_UserOfflineSmall Offline

Norman1 said
According to What can I buy, sell, and hold in TD Easy Trade?, TD Easy Trade only handles TD exchange-traded funds, stocks (common and preferred shares), and American Depository receipts.

Fixed income securities, like bonds and debentures, GIC's, and mutual funds are excluded.  

Thanks for verifying that TD Easy Trade does not trade in this investment. Are there any other channels, besides TDDI, to purchase these notes?

May 31, 2023
2:29 pm
hwyc
GTA
Member
Members
Forum Posts: 1261
Member Since:
September 30, 2017
sp_UserOnlineSmall Online

hwyc said
New Issues on TDDI: TD Bank C$ Extendible Notes 5.38%, payable semi-annually.

Term: 1-year, Extendible to 2 years
Settlement Date: June 8, 2023  

This offer is now *historical* well ahead of the settlement date. Want some in my TFSA, intend to make a placement on Friday sf-yell

... looks like these 2-yr notes are desirable. It's been gone sooner before, as in #24.

May 31, 2023
5:22 pm
Norman1
Member
Members
Forum Posts: 7162
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

One can get similar rates with regular TD Bank bonds.

TD Bank 2.496% 2024/12/02 bond at Scotia iTRADE was 95.869 today.

With $25,000+ purchase, the commission would be 0.100. Net cost 95.969 for a net yield to maturity of 5.32%.

May 31, 2023
5:27 pm
kesa
Member
Members
Forum Posts: 234
Member Since:
February 14, 2023
sp_UserOfflineSmall Offline

Norman1 said
One can get similar rates with regular TD Bank bonds.

TD Bank 2.496% 2024/12/02 bond at Scotia iTRADE was 95.869 today.

With $25,000+ purchase, the commission would be 0.100. Net cost 95.969 for a net yield to maturity of 5.32%.  

Of course it would be similar, it’s the same credit.

May 31, 2023
6:15 pm
hwyc
GTA
Member
Members
Forum Posts: 1261
Member Since:
September 30, 2017
sp_UserOnlineSmall Online

Norman1 said
One can get similar rates with regular TD Bank bonds.

TD Bank 2.496% 2024/12/02 bond at Scotia iTRADE was 95.869 today.

With $25,000+ purchase, the commission would be 0.100. Net cost 95.969 for a net yield to maturity of 5.32%.  

There is much to learn in bonds for me! After some searching, I found the same bond on TDDI with a price of $96.443 but still cannot recognize they are comparable.

... with a new issue, I can understand/compare it as a simple term deposit.

No permission to create posts

Please write your comments in the forum.