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TD Bank plans five-year callable step-up notes with 2% initial rate
By Tali Rackner
Norfolk, Va., Jan. 8 – Toronto-Dominion Bank plans to price callable step-up notes due Jan. 29, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2% for the first two years, stepping up to 2.05% for years three and four and to 4.55% in year five. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning April 29, 2016.
TD Securities (USA) LLC is the underwriter.
The notes will price Jan. 26 and settle Jan. 29.
The Cusip number is 89114QUL0.
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