New Issue: TD Bank prices $9.99 million of callable step-up notes with 3.4% initial rate

By Wendy Van Sickle

Columbus, Ohio, April 18 – Toronto-Dominion Bank priced $9.99 million of callable step-up notes due April 18, 2027, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 3.4% initially, stepping up to 3.75% on Oct. 18, 2024, to 4.5% on Oct. 18, 2025, to 5% on April 18, 2026 and to 6.5% on Oct. 16, 2026. Interest is payable quarterly.

The payout at maturity will be par.

The notes are callable at par on any quarterly redemption date starting on Oct. 18, 2023.

TD Securities (USA) LLC and Wells Fargo Securities, LLC are the agents.

Issuer:	Toronto-Dominion Bank
Issue:	Callable step-up notes
Amount:	$9,987,000
Maturity:	April 18, 2027
Coupon:	3.4% initially, stepping up to 3.75% on Oct. 18, 2024, to 4.5% on Oct. 18, 2025, to 5% on April 18, 2026 and to 6.5% on Oct. 16, 2026; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	Callable at par on any quarterly redemption date starting on Oct. 18, 2023
Pricing date:	April 13
Settlement date:	April 18
Agents:	TD Securities (USA) LLC and Wells Fargo Securities, LLC
Fees:	1.29121%
Cusip:	89114VBD8

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