By William Gullotti
Buffalo, N.Y., June 29 – Toronto-Dominion Bank priced $5.24 million of autocallable contingent interest barrier notes due June 28, 2023 linked to the common stock of Phillips 66, 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 9.45% if the stock closes at or above the coupon barrier price, 70% 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 observation date after six months.
If the notes are not called, the payout at maturity will be par plus any contingent interest payment due unless the stock finishes below the barrier price, 70% of the initial share price, in which case investors will receive shares of the underlying stock.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stock: | Phillips 66
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| Amount: | $5,239,000
|
| Maturity: | June 28, 2023
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| Coupon: | 9.45% annual rate, payable quarterly if underlier finishes above 70% of initial level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any contingent interest payment due unless the stock finishes below barrier price, in which case the physical delivery amount of 11.3302 shares per note
|
| Call: | Automatically at par plus contingent interest payment if shares of the stock close at or above initial price on any quarterly observation date after six months
|
| Initial share price: | $88.26
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| Coupon barrier/barrier level: | $61.782; 70% of initial levels
|
| Pricing date: | June 23
|
| Settlement date: | June 29
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 89117GBB2
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