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TD Bank plans to price callable step-up notes with 1.55% initial rate
By Marisa Wong
Madison, Wis., April 17 – Toronto-Dominion Bank plans to price callable step-up notes due April 30, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 1.55% for the first two years, stepping up to 1.75% for year three, to 2% for year four and to 3% in year five. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable quarterly beginning July 30.
TD Securities (USA) LLC is the agent.
The notes are expected to price April 27 and settle April 30.
The Cusip number is 89114QST6.
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