TD eyes callable contingent interest barrier notes on Dow, Nasdaq, Russell

By Sarah Lizee

Olympia, Wash., July 20 – Toronto-Dominion Bank plans to price callable contingent interest barrier notes due July 25, 2025 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 9.5% if each index closes at or above the 70% contingent interest barrier level on the observation date for that quarter.

The notes will be callable at par on any quarterly observation date after six months.

The payout at maturity will be par plus any coupon unless any index finishes below the 60% 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.

The notes will price on July 22.

The Cusip number is 89114RP67.

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