By William Gullotti
Buffalo, N.Y., June 29 – Toronto-Dominion Bank priced $1.74 million of callable contingent interest barrier notes due June 27, 2024 linked to the least performing of the iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 6% if each index closes at or above the 70% contingent interest barrier level on the corresponding observation date.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par unless any index finishes below the 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying funds: | iShares Russell 2000 ETF, SPDR S&P 500 ETF Trust
|
| Amount: | $1,735,000
|
| Maturity: | June 27, 2024
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| Coupon: | 6% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par on any quarterly observation date
|
| Initial levels: | $228.66 for iShares, $422.60 for SPDR
|
| Coupon barrier levels: | $160.062 for iShares, $295.82 for SPDR; 70% of initial levels
|
| Barrier levels: | $148.629 for iShares, $274.69 for SPDR; 65% of initial levels
|
| Strike date: | June 23
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 89114TLU4
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