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Published on 3/18/2024 in the Prospect News Structured Products Daily.

New Issue: TD Bank sells $2 million contingent market-linked autocalls tied to three indexes

By Kiku Steinfeld

Chicago, March 18 – Toronto-Dominion Bank priced $2 million of market-linked securities – autocallable with contingent coupon and contingent downside due June 29, 2027 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent interest payment at the rate of 7% per year if each index closes at or above the coupon barrier level, 65% of the initial level, on the observation date for that period.

The notes will be automatically called at par plus the coupon if each index closes at or above initial levels on any quarterly observation date after six months.

If the worst performer finishes below its 65% threshold level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.

TD Securities (USA) LLC and Wells Fargo Securities, LLC are the agents.

Issuer:Toronto-Dominion Bank
Issue:Market-linked securities – autocallable with contingent coupon and contingent downside
Underlying indexes:S&P 500 index, Russell 2000 index, Dow Jones industrial average
Amount:$1,995,000
Maturity:June 29, 2027
Coupon:7% annual rate, payable quarterly if all indexes close at or above their coupon barrier levels on the relevant observation date
Price:Par
Payout at maturity:Par if worst performer finishes at or above threshold level; otherwise, 1% loss for each 1% decline of worst performer from initial level
Call:Automatically at par plus coupon if each index closes at or above initial levels on any quarterly observation date after six months
Initial level:4,450.38 for S&P, 1,888.734 for Russell, 34,407.60 for Dow
Coupon barrier:2,892.747 for S&P, 1,227.6771 for Russell, 22,364.94 for Dow; 65% of initial levels
Threshold level:2,892.747 for S&P, 1,227.6771 for Russell, 22,364.94 for Dow; 65% of initial levels
Pricing date:June 30, 2023
Settlement date:July 6, 2023
Agents:TD Securities (USA) LLC and Wells Fargo Securities, LLC
Fees:2.325%
Cusip:89114YYL9

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