New Issue: TD Bank prices $2.48 million step-up notes with 2.5% initial rate

By Sarah Lizee

Olympia, Wash., Feb. 22 – Toronto-Dominion Bank priced $2.48 million of callable step-up notes due Feb. 26, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2.5% initially, stepping up to 3% on Feb. 26, 2020, to 3.25% on Feb. 26, 2021, to 4.25% on Feb. 26, 2022 and to 5.25% on Aug. 26, 2022. 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
Issue:	Callable step-up notes
Amount:	$2,481,000
Maturity:	Feb. 26, 2023
Price:	Par
Payout at maturity:	Par
Coupon:	2.5% initially, stepping up to 3% on Feb. 26, 2020, to 3.25% on Feb. 26, 2021, to 4.25% on Feb. 26, 2022 and to 5.25% on Aug. 26, 2022; payable quarterly
Call option:	At par quarterly
Pricing date:	Feb. 21
Settlement date:	Feb. 26
Agent:	TD Securities (USA) LLC
Fees:	1.509%
Cusip:	89114QKX5

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