New Issue: TD Bank prices $4.88 million dual directional buffered notes on S&P 500

By William Gullotti

Buffalo, N.Y., Aug. 16 – Toronto-Dominion Bank priced $4.88 million of 0% dual directional buffered notes due Aug. 15, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the index return, capped at par plus 25.09%.

If the index declines but finishes at or above the 80% buffer level, the payout will be par plus the absolute value of the index return.

If the index finishes below the buffer level, investors will lose 1.25% for every 1% index decline beyond 20%.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Dual directional buffered notes
Underlying index:	S&P 500 index
Amount:	$4,884,000
Maturity:	Aug. 15, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 25.09%; if the index declines but finishes at or above the buffer level, par plus the absolute value of the index return; otherwise, 1.25% loss for every 1% of index decline below 20%
Initial level:	4,280.15
Buffer level:	3,424.12; 80% of initial level
Pricing date:	Aug. 12
Settlement date:	Aug. 17
Agent:	TD Securities (USA) LLC
Fees:	1.5%
Cusip:	89114YB34

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