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Toronto-Dominion plans callable step-up notes with a 2.1% initial rate
By Devika Patel
Knoxville, Tenn., April 8 – Toronto-Dominion Bank plans to price callable step-up notes due April 29, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2.1% in years one through three, stepping up to 2.65% in years four and five and to 3.15% in years six and seven. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning on July 29, 2016.
TD Securities (USA) LLC is the underwriter.
The notes (Cusip: 89114QVE5) will price on April 26 and settle on April 29.
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