Published on 3/31/2015 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $3.08 million callable step-up notes with 2.15% start rate
By Toni Weeks
San Luis Obispo, Calif., March 31 – Toronto-Dominion Bank priced $3.08 million of callable step-up notes due March 31, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2.15% for the first four years, stepping up to 3% in year five, to 4% in year six and to 4.35% in year seven. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable quarterly beginning June 30.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
|
Issue: | Callable step-up notes
|
Amount: | $3,075,000
|
Maturity: | March 31, 2022
|
Coupon: | 2.15% initially, stepping up to 3% on March 31, 2019, to 4% on March 31, 2020 and to 4.35% on March 31, 2021; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | At par on any interest payment date beginning June 30
|
Pricing date: | March 26
|
Settlement date: | March 31
|
Agent: | TD Securities (USA) LLC
|
Fees: | 1.454%
|
Cusip: | 89114QSQ2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.