By Taylor Fox
New York, Feb. 18 – Toronto-Dominion Bank priced $15 million of 0% review notes due Feb. 2, 2026 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 9% per year if each index closes at or above its call level on any semiannual call date after one year.
At maturity, if both indexes finish above their 70% barrier levels, the notes will be called at par plus the final call premium of 45%.
Otherwise, investors will lose 1% for each 1% that the lesser-performing index declines.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Review notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $15 million
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| Maturity: | Feb. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 45% final call premium if both indexes finish above barrier level; otherwise, 1% for each 1% that the lesser-performing index declines
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| Call: | Automatically called at par plus a call premium of 9% per year if each index closes at or above its call level on any semiannual call date after one year
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| Initial levels: | 3,800.06 for S&P, 2,133.65 for Russell
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| Barrier levels: | 70% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agents: | TD Securities (USA) LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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| Fees: | 0.5%
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| Cusip: | 89114T7K2
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