By Marisa Wong
Morgantown, W.Va., March 2 – Toronto-Dominion Bank priced $2.5 million of callable step-up notes due Feb. 28, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.25% for the first three years, stepping up to 2.3% for years four and five and to 5.15% for years six and seven. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning May 31.
TD Securities (USA) LLC is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Callable step-up notes
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Amount: | $2.5 million
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Maturity: | Feb. 28, 2023
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Coupon: | 2.25% for first three years, stepping up to 2.3% for years four and five and to 5.15% for years six and seven; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par quarterly beginning May 31
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Pricing date: | Feb. 25
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Settlement date: | Feb. 29
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Agent: | TD Securities (USA) LLC
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Fees: | 1.528%
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Cusip: | 89114QUQ9
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