New Issue: TD Bank Financial prices $0.697 million 11% notes linked to E*Trade

By Jennifer Chiou

New York, July 26 - TD Bank Financial Group priced a $0.697 million issue of 11% notes due July 31, 2007 linked to the performance of E*Trade Financial Corp. stock, according to a 424B5 filing with the Securities and Exchange Commission.

At maturity, the notes pay par in cash unless E*Trade stock hits the limit price during the term of the notes and ends below the initial value.

If the trigger - set at $16.13, 70% of the initial price - is hit and the stock ends below its initial value, the payout is 43 shares plus the cash value of 0.4028 shares per $1,000 note.

Issuer:	TD Bank Financial Group
Issue:	Equity-linked notes
Underlying stock:	E*Trade Financial Corp.
Amount:	$0.697 million
Coupon:	11%, payable quarterly
Maturity:	July 31, 2007
Payout at maturity:	If E*Trade stock closes below the limit price of $16.13 at any time up to and including the July 25, 2007 valuation date and closes below the initial price on July 25, 2007, 43 shares of E*Trade stock and cash value of 0.4028 shares; otherwise par in cash
Exchange ratio:	43.4028
Initial price:	$23.04
Limit price:	$16.13 (70% of initial price)
Pricing date:	July 25
Settlement date:	July 28
Underwriter:	TD Securities

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