New Issue: TD prices $1.71 million callable step-up notes with 2.5% initial rate

By Devika Patel

Knoxville, Tenn., June 29 – Toronto-Dominion Bank priced $1.71 million of callable step-up notes due June 30, 2025, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2.5% in years one through three, 3% in year four through five, 4% in year six through seven, 5% in year eight and 6% in year 10. Interest will be payable quarterly.

The payout at maturity will be par plus interest.

The notes will be callable quarterly after June 30, 2017.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Callable step-up notes
Amount:	$1.71 million
Maturity:	June 30, 2025
Coupon:	2.5% initially, stepping up to 3% on June 30, 2018, to 4% on June 30, 2020, to 5% on June 30, 2022 and to 6% on June 30, 2024; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	Quarterly at par plus interest beginning on June 30, 2017
Pricing date:	June 25
Settlement date:	June 30
Agent:	TD Securities (USA) LLC
Fees:	2.3%
Cusip:	89114QTE8

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