By Taylor Fox
New York, Nov. 18 – Toronto-Dominion Bank priced $300,000 of autocallable contingent interest barrier notes with memory interest due Nov. 16, 2021 linked to the S&P 500 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 10.89% if the index closes at or above the 75% contingent interest barrier level on the observation date for that period. Interest payments will include previously unpaid coupons
The notes will be automatically called at par if the index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus any coupon due unless the index finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $300,000
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| Maturity: | Nov. 16, 2021
|
| Coupon: | 10.89% annual rate, payable quarterly if index closes at or above contingent interest barrier level on observation date for that period; coupons will include previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless index finishes below barrier level, in which case 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par if index closes at or above initial level on any quarterly observation date
|
| Initial level: | 3,310.11
|
| Contingent interest barrier: | 2,482.5825; 75% of initial level
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| Barrier level: | 2,482.5825; 75% of initial level
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 4
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 89114RWF9
|
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