By Sarah Lizee
Olympia, Wash., Jan. 30 – Toronto-Dominion Bank priced $2 million of callable step-up notes due Jan. 31, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% for the first five years, stepping up to 3.5% for years six through eight and to 4% for years nine and 10. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable quarterly at par in whole.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable step-up notes
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| Amount: | $2 million
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| Maturity: | Jan. 31, 2028
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| Price: | Par
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| Payout at maturity: | Par
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| Coupon: | 3% for the first five years, stepping up to 3.5% for years six through eight and to 4% for years nine and 10; payable quarterly
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| Call option: | At par in whole quarterly
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.55%
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| Cusip: | 89114QKT4
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