By Taylor Fox
New York, Nov. 23 – Toronto-Dominion Bank priced $930,000 of autocallable contingent interest barrier notes due Nov. 16, 2023 linked to the shares of the iShares Russell 2000 ETF, the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Semiannually, the notes will pay a contingent interest payment at the rate of 8% per year if each fund closes at or above the coupon barrier price, 70% of the initial share price, on the observation date for that period.
The notes will be called at par plus the contingent interest payment if the shares of each fund close at or above their initial prices on any semiannual observation date.
If the notes are not called, the payout at maturity will be par plus any contingent interest payment unless the least performing fund finishes below the barrier price, 70% of the initial share price, in which case investors will be fully exposed to the laggard fund’s decline.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying funds: | iShares Russell 2000 ETF, Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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| Amount: | $930,000
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| Maturity: | Nov. 16, 2023
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| Coupon: | Semiannually, the notes pay contingent interest at rate of 8% per year if all funds close at or above barrier price on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par plus any contingent interest payment due unless any fund finishes below barrier price, in which case full exposure to laggard fund’s decline
|
| Call: | Automatically at par plus contingent interest payment if shares of each fund close at or above initial price on any semiannual observation date
|
| Initial share prices: | $169.98 for iShares, $288.40 for QQQ and $353.21 for SPDR
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| Coupon barrier prices: | $118.986 for iShares, $201.88 for QQQ and $247.247 for SPDR; 70% of initial levels
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| Barrier prices: | $118.986 for iShares, $201.88 for QQQ and $247.247 for SPDR; 70% of initial levels
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 18
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.24%
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| Cusip: | 89114RY42
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