New Issue: TD Bank sells $10.54 million callable step-up notes with 3% start rate

By Sarah Lizee

Olympia, Wash., May 16 – Toronto-Dominion Bank priced $10.54 million of 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 and Jefferies LLC are the agents.

Issuer:	Toronto-Dominion Bank
Issue:	Callable step-up notes
Amount:	$10,543,000
Maturity:	May 18, 2022
Price:	Par
Payout at maturity:	Par
Coupon:	3% initially, stepping up to 3.5% on May 18, 2020 and to 4% on May 18, 2021; payable quarterly
Call option:	In whole at par quarterly beginning May 18, 2019
Pricing date:	May 15
Settlement date:	May 18
Agents:	TD Securities (USA) LLC and Jefferies LLC
Fees:	0.81%
Cusip:	89114QMS4

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