By Marisa Wong
Los Angeles, March 30 – Toronto-Dominion Bank priced $10.38 million of 0% contingent barrier return enhanced notes due March 25, 2025 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 the initial index level, the payout at maturity will be par plus 149% of the gain.
If the final index level is less than or equal to the initial index level but greater than or equal to the barrier value, 80% of the initial index level, the payout will be par.
If the final index level is less than the barrier value, investors will lose 1% for every 1% that the index declines from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Contingent barrier return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $10,375,000
|
| Maturity: | March 25, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 149% of any index gain; par if index finishes flat or falls by up to 20%; otherwise, 1% loss for every 1% that index declines from initial level
|
| Initial level: | 2,409.39
|
| Barrier value: | 1,927.512, 80% of initial level
|
| Final level: | Average of index closing levels for five trading days ending March 20, 2025
|
| Strike date: | March 19
|
| Pricing date: | March 20
|
| Settlement date: | March 25
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 89114RFZ4
|
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