By Taylor Fox
New York, Dec. 30 – Toronto-Dominion Bank priced $2.12 million of 9.5% autocallable fixed-interest barrier notes with daily close monitoring knock-in due Dec. 23, 2021 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus the coupon if the shares of the stock close at or above the initial share price on any quarterly call observation date after six months
The payout at maturity will be par plus the coupon unless the stock finishes below the barrier price, 70% of the initial share price, on any day during the life of the notes or closes below its initial level in which case investors will be fully exposed to the stock’s decline, payable in stock.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable fixed interest barrier notes with daily close monitoring knock-in
|
| Underlying stock: | Apple Inc.
|
| Amount: | $2,116,000
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| Maturity: | Dec. 23, 2021
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| Coupon: | 9.5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any stock finishes below initial level or ever closes below barrier price during the life of the notes, in which case full exposure to the stock’s decline payable in shares
|
| Call: | Automatically at par plus coupon if shares of the stock close at or above initial share price on any quarterly call observation date after six months
|
| Initial share price: | $126.655
|
| Barrier price: | $88.6585, 70% of initial value
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.91%
|
| Cusip: | 891160SU8
|
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