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TD Bank to price callable step-up notes with 3.125% initial rate
By Sarah Lizee
Olympia, Wash., March 28 – Toronto-Dominion Bank plans to price callable step-up notes due April 20, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.125% initially, stepping up to 4% on April 20, 2021 and to 5% on April 20, 2022. Interest will be payable quarterly.
The payout at maturity will be par.
The notes are callable in whole at par quarterly beginning on April 20, 2019.
TD Securities (USA) LLC is the agent.
The notes will price on April 17 and settle on April 20.
The Cusip number is 89114QMA3.
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