By Kiku Steinfeld
Chicago, April 19 – Toronto-Dominion Bank priced $1.86 million of autocallable contingent income barrier participation notes due Sept. 29, 2022 linked to the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent interest payment at the annual rate of 12% if the ETF closes at or above the coupon barrier price, 60% 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 close at or above the initial price on any quarterly call observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final contingent interest payment unless the ETF finishes below the barrier price, 60% of the initial share price, in which case investors will be fully exposed to the decline.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent income barrier participation notes
|
| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $1,855,000
|
| Maturity: | Sept. 29, 2022
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| Coupon: | 12% annual rate, payable quarterly if underlier finishes above 60% of initial level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent interest payment unless the ETF finishes below barrier price, in which case full exposure to the ETF’s decline
|
| Call: | Automatically at par plus contingent interest payment if shares of the ETF close at or above initial price on any quarterly call observation date after six months
|
| Initial share price: | $114.42
|
| Coupon barrier: | $68.652, 60% of initial levels
|
| Barrier level: | $68.652, 60% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 30
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.9838%
|
| Cusip: | 89114TEP3
|
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