By Taylor Fox
New York, Dec. 7 – Toronto-Dominion Bank priced $1.5 million of callable contingent interest barrier notes due Nov. 28, 2025 linked to the least performing of the Nasdaq-100 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.2% if each index closes at or above the 67.5% contingent interest barrier level on the observation date for that quarter.
The notes will be callable at par on any quarterly observation date starting after six months.
The payout at maturity will be par unless any index finishes below the 67.5% 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 indexes: | Nasdaq-100 index and Euro Stoxx Banks index
|
| Amount: | $1.5 million
|
| Maturity: | Nov. 28, 2025
|
| Coupon: | 8.2%, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call option: | At par on any quarterly observation date after six months
|
| Initial levels: | 12,079.81 for Nasdaq and 75.74 for Stoxx
|
| Coupon barrier levels: | 8,153.8718 for Nasdaq and 51.1245 for Stoxx; 67.5% of initial levels
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| Barrier levels: | 8,153.8718 for Nasdaq and 51.1245 for Stoxx; 67.5% of initial levels
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 30
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3.6%
|
| Cusip: | 89114RYM2
|
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