New Issue: TD Bank sells $7 million callable step-up notes with 2.2% initial rate

By Marisa Wong

Morgantown, W.Va., Nov. 18 – Toronto-Dominion Bank priced $7 million of callable step-up notes due Nov. 19, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2.2% for the first three years and steps 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 semiannually.

The payout at maturity will be par.

The notes will be callable on any semiannual call date after one year.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Callable step-up notes
Amount:	$7 million
Maturity:	Nov. 19, 2020
Coupon:	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; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any semiannual call date beginning Nov. 19, 2016
Pricing date:	Nov. 16
Settlement date:	Nov. 19
Agent:	TD Securities (USA) LLC
Fees:	0.87%
Cusip:	89114QUD8

© 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.