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TD Bank plans seven-year callable step-up notes with 2.4% initial rate
By Susanna Moon
Chicago, Jan. 12 – Toronto-Dominion Bank plans to price callable step-up notes due Jan. 29, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.4% for the first three years, stepping up to 2.65% for years four and five and to 4.5% after that. 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 on Jan. 26 and settle on Jan. 29.
The Cusip number is 89114QUN6.
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