By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – Toronto-Dominion Bank priced $2 million of callable step-up notes due Dec. 31, 2025, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will be 2.55% for the first four years, stepping up to 3% for years five to six, to 3.5% for year seven, to 4% for year eight, to 4.5% for year nine and to 6% for year 10. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning March 31, 2016.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable step-up notes
|
| Amount: | $2 million
|
| Maturity: | Dec. 31, 2025
|
| Coupon: | 2.55% for the first four years and steps up to 3% for years five and six, to 3.5% for year seven, to 4% for year eight, to 4.5% for year nine and to 6% for year 10; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Quarterly beginning March 31, 2016
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.1325%
|
| Cusip: | 89114QUG1
|
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