Toronto-Dominion plans callable step-up notes with 2% initial rate

By Angela McDaniels

Tacoma, Wash., July 12 – Toronto-Dominion Bank plans to price callable step-up notes due July 29, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2% in years one through three, 2.25% in years four and five, 3% in year six and 4.25% in year 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.

TD Securities (USA) LLC is the underwriter.

The notes will price July 26.

The Cusip number is 89114QVX3.

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