By William Gullotti
Buffalo, N.Y., Dec. 13 – Toronto-Dominion Bank priced $2 million of callable step-up notes due Dec. 11, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5.75% initially, stepping up to 6% on Dec. 11, 2025 and to 7% on Dec. 11, 2027. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any quarterly redemption date after one year.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable step-up notes
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| Amount: | $2 million
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| Maturity: | Dec. 11, 2028
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| Coupon: | 5.75% initially, stepping up to 6% on Dec. 11, 2025 and to 7% on Dec. 11, 2027; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Call option: | Callable at par on any quarterly redemption date after one year
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 11
|
| Underwriter: | TD Securities (USA) LLC
|
| Fees: | 0.9%
|
| Cusip: | 89114XCR2
|
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