Published on 8/2/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $7.3 million callable step-up notes with 2.25% initial rate
By Wendy Van Sickle
Columbus, Ohio, Aug. 2 – Toronto-Dominion Bank priced $7.3 million of callable step-up notes due July 31, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.25% initially, stepping up to 2.35% on July 31, 2020 and to 2.45% on July 31, 2021. Interest is payable quarterly.
The notes are 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: | $7,297,000
|
| Maturity: | July 31, 2022
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| Coupon: | 2.25% initially, stepping up to 2.35% on July 31, 2020 and to 2.45% on July 31, 2021; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par quarterly
|
| Pricing date: | July 29
|
| Settlement date: | July 31
|
| Underwriter: | TD Securities (USA) LLC
|
| Fees: | 0.716%
|
| Cusip: | 89114Q2C1
|
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