By Angela McDaniels
Tacoma, Wash., Jan. 17 – Toronto-Dominion Bank priced $15 million of callable step-up notes due Jan. 18, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.5% in years one through three, 4.125% in year four and 5.25% in year five. Interest is payable quarterly.
Beginning Jan. 18, 2020, the notes will be callable at par on any quarterly call date.
The payout at maturity will be par.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable step-up notes
|
| Amount: | $15 million
|
| Maturity: | Jan. 18, 2024
|
| Coupon: | Initial interest rate is 3.5%; steps up to 4.125% on Jan. 18, 2022 and to 5.25% on Jan. 18, 2023; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Callable at par quarterly beginning Jan. 18, 2020
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 18
|
| Underwriter: | TD Securities (USA) LLC
|
| Fees: | 0.899%
|
| Cusip: | 89114QGB8
|
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