By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Toronto-Dominion Bank priced $1 million of autocallable contingent interest barrier notes with memory interest due Jan. 5, 2022 linked to the least performing of the iShares MSCI Emerging Markets ETF, the iShares Russell 2000 ETF and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.36% if each fund closes at or above the 75% contingent interest 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 each fund closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus any coupon due unless any fund finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing fund from its initial level.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes with memory interest
|
| Underlying funds: | iShares MSCI Emerging Markets ETF, iShares Russell 2000 ETF and Energy Select Sector SPDR fund
|
| Amount: | $1 million
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| Maturity: | Jan. 5, 2022
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| Coupon : | 12.36%, payable quarterly if each fund closes at or above contingent interest barrier level on observation date for that period, in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless any fund finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing fund from initial level
|
| Call: | Automatically at par if each fund closes at or above initial level on any quarterly observation date
|
| Initial levels: | $50.99 for EM, $195.34 for Russell, $39.40 for Energy
|
| Barrier prices: | $38.2425 for EM, $146.505 for Russell, $29.55 for Energy; 75% of initial levels
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Agent: | TD Securities (USA) LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.204%
|
| Cusip: | 89114T3V2
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