TD Bank plans to price callable step-up notes with 1.7% initial rate

By Toni Weeks

San Luis Obispo, Calif., Dec. 9 – Toronto-Dominion Bank plans to price callable step-up notes due Dec. 30, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 1.7% for the first year and will step up to 1.75% in year two, 1.8% in year three, 2.25% in year 4 and 3.5% in year five. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable quarterly beginning March 30, 2015.

TD Securities (USA) LLC is the agent.

The notes will price Dec. 23 and settle Dec. 30.

The Cusip number is 89114QSD1.

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