By William Gullotti
Buffalo, N.Y., June 1 – Toronto-Dominion Bank priced $1.26 million of callable step-up notes due May 31, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5.25% initially, stepping up to 5.5% on May 31, 2024 and by 50 basis points each following year. Interest is payable quarterly.
The notes are callable at par on any quarterly coupon payment date.
The payout at maturity will be par.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable step-up notes
|
| Amount: | $1,255,000
|
| Maturity: | May 31, 2028
|
| Coupon: | 5.25% initially, stepping up to 5.5% on May 31, 2024 and stepping up by 50 bps per subsequent year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Callable at par on any quarterly coupon payment date
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriter: | TD Securities (USA) LLC
|
| Fees: | 1.26534%
|
| Cusip: | 89114XA94
|
|
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