By Marisa Wong
Morgantown, W.Va., Nov. 1 – Toronto-Dominion Bank priced $8 million of callable step-up notes due Oct. 31, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 1.5% for the first year, stepping up to 1.6% in year two, 1.75% in year three, 2% in year four and 2.5% in year five. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable quarterly at par.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable step-up notes
|
| Amount: | $8 million
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| Maturity: | Oct. 31, 2021
|
| Coupon: | 1.5% for the first year, stepping up to 1.6% in year two, 1.75% in year three, 2% in year four and 2.5% in year five; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.423%
|
| Cusip: | 89114QXR4
|
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