New Issue: TD Bank prices $210,000 callable step-up notes with 3.25% start rate

By Sarah Lizee

Olympia, Wash., Oct. 1 – Toronto-Dominion Bank priced $210,000 of callable step-up notes due Sept. 30, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is 3.25% initially, stepping up to 3.5% on March 31, 2021, to 4% on March 31, 2022 and to 5% on March 31, 2023. Interest is payable semiannually.

The payout at maturity will be par.

The notes are callable in whole at par semiannually beginning on Sept. 30, 2019.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Callable step-up notes
Amount:	$210,000
Maturity:	Sept. 30, 2023
Price:	Par
Payout at maturity:	Par
Coupon:	3.25% initially, stepping up to 3.5% on March 31, 2021, to 4% on March 31, 2022 and to 5% on March 31, 2023; payable semiannually
Call option:	In whole at par semiannually beginning Sept. 30, 2019
Pricing date:	Sept. 25
Settlement date:	Sept. 28
Agent:	TD Securities (USA) LLC
Fees:	1.15%
Cusip:	89114QRE0

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