By Wendy Van Sickle
Columbus, Ohio, May 24 – Toronto-Dominion Bank priced $685,000 of autocallable contingent interest barrier notes due May 4, 2023 linked to the Energy Select Sector SPDR fund, 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 9% if the ETF closes at or above the coupon barrier price, 75% 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.
If the notes are not called, the payout at maturity will be par plus any contingent interest payment due unless the ETF finishes below the barrier price, 75% 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
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Issue: | Autocallable contingent interest barrier notes
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Underlying ETF: | Energy Select Sector SPDR fund
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Amount: | $685,000
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Maturity: | May 4, 2023
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Coupon: | 9% annual rate, payable quarterly if underlier finishes above 75% of initial level on related observation date
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Price: | Par
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Payout at maturity: | Par plus any contingent interest payment due unless the ETF finishes below barrier price, in which case full exposure to the ETF’s decline
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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
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Initial share price: | $49.39
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Coupon barrier: | $37.0425, 75% of initial levels
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Barrier level: | $37.0425, 75% of initial levels
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Pricing date: | April 30
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Settlement date: | May 5
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Agent: | TD Securities (USA) LLC
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Fees: | 1.1%
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Cusip: | 89117GAD9
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