By Kiku Steinfeld
Chicago, Nov. 22 – Toronto-Dominion Bank priced $500,000 of autocallable contingent interest barrier notes with memory interest due June 26, 2023 linked to the common stock of Moderna, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual 23.37% rate if the stock closes at or above the 60% coupon barrier level on the observation date for that period, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be automatically called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below the 50% barrier level, in which case investors will lose 1% for each 1% decline from the initial level.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable contingent interest barrier notes with memory interest
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Underlying stock: | Moderna, Inc.
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Amount: | $500,000
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Maturity: | June 26, 2023
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Coupon: | 23.37% annual rate, payable quarterly if the stock closes at or above coupon barrier level on observation date for that period, in which case a coupon will also be paid for any previously unpaid quarter
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below barrier level, in which case 1% loss for each 1% decline from initial level
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Call: | Automatically at par if the stock closes at or above initial level on any quarterly observation date
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Initial level: | $175.38
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Coupon barrier level: | $105.228; 60% of initial level
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Barrier level: | $87.69; 50% of initial level
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Pricing date: | March 22
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Settlement date: | March 25
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Agent: | TD Securities (USA) LLC
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Fees: | 0%
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Cusip: | 89114VAX5
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