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TD Bank plans to price callable step-up notes with 3.5% initial rate
By Sarah Lizee
Olympia, Wash., Nov. 8 – Toronto-Dominion Bank plans to price callable step-up notes due Nov. 30, 2023, according to a 424B3 filing with the Securities and Exchange Commission.
Interest will be 3.5% initially, stepping up to 4.5% on Nov. 30, 2020 and to 5% on Nov. 30, 2022. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable in whole at par quarterly beginning on Nov. 30, 2019.
TD Securities (USA) LLC is the agent.
The notes will price on Nov. 26 and settle on Nov. 30.
The Cusip number is 89114QER5.
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