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TD Bank plans callable step-up notes due 2022 with 3% initial rate
By Sarah Lizee
Olympia, Wash., April 24 – Toronto-Dominion Bank plans to price callable step-up notes due May 18, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 3.5% on May 18, 2020 and to 4% on May 18, 2021. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable in whole at par quarterly beginning on May 18, 2019.
TD Securities (USA) LLC is the agent.
The notes will price on May 15 and settle on May 18.
The Cusip number is 89114QMS48.
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