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Published on 1/31/2024 in the Prospect News Structured Products Daily.

New Issue: TD Bank prices $930,000 callable contingent interest barrier notes on three ETFs

Chicago, Jan. 31 – Toronto-Dominion Bank priced $930,000 of callable contingent interest barrier notes due Jan. 14, 2027 linked to the performance of the SPDR Dow Jones Industrial Average ETF Trust, 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 8% if each ETF closes at or above the 65% contingent interest barrier level on the corresponding observation date.

The notes will be callable at par plus any coupon due on any quarterly observation date.

The payout at maturity will be par plus the final coupon unless any ETF finishes below the 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing ETF from its initial level.

TD Securities (USA) LLC is the agent.

Issuer:Toronto-Dominion Bank
Issue:Callable contingent interest barrier notes
Underlying funds:SPDR Dow Jones Industrial Average ETF Trust, iShares Russell 2000 ETF and SPDR S&P 500 ETF Trust
Amount:$930,000
Maturity:Jan. 14, 2027
Coupon:8% annual rate, payable quarterly if each ETF closes at or above contingent interest barrier level on the corresponding observation date
Price:Par
Payout at maturity:Par plus final coupon unless any ETF finishes below barrier level, in which case 1% loss for each 1% decline of least-performing ETF from initial level
Call option:At par plus any coupon due on any quarterly observation date
Initial levels:$376.84 for Dow, $196.73 for Russell, $474.60 for S&P
Coupon barrier levels:$244.946 for Dow, $127.8745 for Russell, $308.49 for S&P; 65% of initial levels
Barrier levels:$244.946 for Dow, $127.8745 for Russell, $308.49 for S&P; 65% of initial levels
Strike date:Jan. 8
Pricing date:Jan. 9
Settlement date:Jan. 12
Agent:TD Securities (USA) LLC
Fees:1.7%
Cusip:89115FPM7

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