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TD Bank plans five-year callable step-up notes with 1.4% initial rate
By Marisa Wong
Morgantown, W.Va., Sept. 26 – Toronto-Dominion Bank plans to price callable step-up notes due Sept. 30, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 1.4% in years one and two, 1.6% in year three, 2% in year four and 2.75% in year five. Interest will be payable quarterly.
The payout at maturity will be par plus interest.
The notes will be callable quarterly.
TD Securities (USA) LLC is the agent.
The notes will price on Sept. 27.
The Cusip number is 89114QXJ2.
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