By Wendy Van Sickle
Columbus, Ohio, June 14 – Toronto-Dominion Bank priced $50 million of callable capped floating to step-up fixed-rate notes due June 10, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at the two-year Constant Maturity Swap rate with a floor of 0% and a ceiling of 0.35% for the first year. The rate will be 0.5% in the second year and 0.7% in the third year. Interest is payable quarterly.
The notes will be callable quarterly at par after one year.
The payout at maturity will be par.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable capped floating to step-up fixed-rate notes
|
| Underlying rate: | Two-year Constant Maturity Swap rate
|
| Amount: | $50 million
|
| Maturity: | June 10, 2024
|
| Coupon: | Two-year CMS rate for the first year with floor of 0% and ceiling of 0.35%; 0.5% for the second year; 0.7% for the third year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par quarterly after one year
|
| Pricing date: | June 7
|
| Settlement date: | June 10
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 89114TKW1
|
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