Toronto-Dominion Bank to price callable step-up notes with 2.25% initial rate

By Lisa Mayntz

Chicago, Oct. 6 – Toronto-Dominion Bank plans to price callable step-up notes due Oct. 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2.25% for the first four years, stepping up to 2.75% for year five, to 3.75% for year six and to 5% for year seven. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable at par quarterly beginning on Jan. 30, 2016.

TD Securities (USA) LLC is the underwriter.

The notes will price Oct. 27 and settle Oct. 30.

The Cusip number is 89114QTV0.

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