New Issue: TD Bank sells $2.55 million callable step-up notes with 3% initial rate

By Marisa Wong

Morgantown, W.Va., July 30 – Toronto-Dominion Bank priced $2.55 million of callable step-up notes due Aug. 3, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% initially, stepping up to 3.25% on July 31, 2019, to 3.5% on July 31, 2020 and to 4% on Jan. 31, 2021. Interest is payable quarterly.

The payout at maturity will be par.

The notes are callable in whole at par quarterly beginning on Jan. 31, 2019.

TD Securities (USA) LLC is the underwriter.

Issuer:	Toronto-Dominion Bank
Issue:	Callable step-up notes
Amount:	$2,545,000
Maturity:	Aug. 3, 2021
Price:	Par
Payout at maturity:	Par
Coupon:	3% initially, stepping up to 3.25% on July 31, 2019, to 3.5% on July 31, 2020 and to 4% on Jan. 31, 2021; payable quarterly
Call option:	In whole at par quarterly beginning Jan. 31, 2019
Pricing date:	July 26
Settlement date:	July 31
Agent:	TD Securities (USA) LLC
Fees:	0.689%
Cusip:	89114QPR3

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