New Issue: TD Bank sells $2.24 million callable step-up notes with 2.1% initial rate

By Wendy Van Sickle

Columbus, Ohio, Feb. 24 – Toronto-Dominion Bank priced $2.24 million of callable step-up notes due Feb. 27, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2.1% initially, stepping up to 2.2% for year two, to 2.3% for year three, to 2.5% for year four and to 4.1% for year five. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable quarterly.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Callable step-up notes
Amount:	$2,242,000
Maturity:	Feb. 27, 2022
Price:	Par
Payout at maturity:	Par
Coupon:	2.1% initially, stepping up to 2.2% for year two, to 2.3% for year three, to 2.5% for year four and to 4.1% for year five; payable quarterly
Call option:	At par quarterly
Pricing date:	Feb. 22
Settlement date:	Feb. 27
Agent:	TD Securities (USA) LLC
Fees:	1.135%
Cusip:	89114QZJ0

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