TD Bank plans 11% notes linked to FedEx

By Angela McDaniels

Seattle, Sept. 11 - TD Bank Financial Group plans to price an issue of 9% notes due Sept. 28, 2007 linked to the common stock of FedEx Corp., according to a 424B5 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The settlement date is Sept. 27.

Payout at maturity will be par unless FedEx stock falls below the limit price - 80% of the initial share price - during the life of the notes and finishes below its initial share price, in which case payout will be a number of FedEx shares equal to $1,000 divided by the initial share price.

The notes are expected to be rated Aa3 by Moody's Investors Service.

TD Securities (USA) LLC will be the agent for the offering.

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