New Issue: TD Bank sells $2.38 million contingent barrier digital notes on iShares Silver trust

By Wendy Van Sickle

Columbus, Ohio, Nov. 23 – Toronto-Dominion Bank priced $2.38 million of 0% contingent barrier digital notes due Dec. 3, 2021 linked to the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the final fund level is greater than or equal to 73% of the initial fund level, the payout at maturity will be par plus 10%.

If the final fund level is less than the 73% barrier level, investors will lose 1% for every 1% that the fund declines from its initial level.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Contingent barrier digital notes
Underlying fund:	iShares Silver trust
Amount:	$2,375,000
Maturity:	Dec. 3, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 10% unless fund falls by more than 27%, in which case 1% loss for every 1% that fund declines from initial level
Initial level:	$23.02
Barrier value:	$16.8046, 73% of initial level
Final level:	Average of fund closing levels for five trading days ending Nov. 30, 2021
Strike date:	Nov. 16
Pricing date:	Nov. 17
Settlement date:	Nov. 21
Agent:	TD Securities (USA) LLC
Fees:	1%
Cusip:	89114RY67

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