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TD Bank plans five-year callable step-up notes with 2.2% initial rate
By Tali Rackner
Norfolk, Va., Nov. 16 – Toronto-Dominion Bank plans to price callable step-up notes due Nov. 19, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.2% for the first three years, stepping up to 2.5% on Nov. 19, 2018, to 2.75% on May 19, 2019, to 3.5% on Nov. 19, 2019 and to 4% on May 19, 2020. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par semiannually beginning Nov. 19, 2019.
TD Securities (USA) LLC is the underwriter.
The notes will price on Nov. 16 and settle on Nov. 19.
The Cusip number is 89114QUD8.
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