By Jennifer Chiou
New York, Jan. 29 – Toronto-Dominion Bank priced $11.11 million of callable step-up coupon notes due Jan. 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% for the first three years and will step up to 2.2% in year four, to 3% in year five, to 4.25% in year six and to 5.75% in year seven. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning on April 30, 2015, the notes are redeemable on any interest payment date at par.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable step-up coupon notes
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| Amount: | $11.11 million
|
| Maturity: | Jan. 30, 2022
|
| Coupon: | 2% initially, stepping up to 2.2% in year four, to 3% in year five, to 4.25% in year six and to 5.75% in year seven; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
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| Call option: | At par on any interest payment date beginning April 30, 2015
|
| Pricing date: | Jan. 27
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| Settlement date: | Jan. 30
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.419%
|
| Cusip: | 89114QSF6
|
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