By Wendy Van Sickle
Columbus, Ohio, Sept. 30 – The Toronto-Dominion Bank priced $1 million of callable step-up notes due Sept. 30, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is 2.65% for the first four years, stepping up to 3% for years five to six, 3.25% for year seven, 3.75% for year eight, 4.25% for year nine and 5.5% for year 10. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any quarterly call date beginning Dec. 30.
TD Securities (USA) LLC is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Callable step-up notes
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Amount: | $1 million
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Maturity: | Sept. 30, 2025
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Coupon: | 2.65% in years one through four, 3% in years five and six, 3.25% in year seven, 3.75% in year eight, 4.25% in year nine and 5.5% in year 10; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any quarterly call date beginning Dec. 30
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agent: | TD Securities (USA) LLC
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Fees: | 1.9%
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Cusip: | 89114QTP3
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