By Kiku Steinfeld
Chicago, Sept. 3 – Toronto-Dominion Bank priced $2.22 million of callable contingent interest barrier notes due Aug. 25, 2022 linked to the common stocks of ViacomCBS Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly interest payment at the rate of 7.85% per year if the stock closes at or above the coupon barrier price, 55% of the initial share price, on the observation date for that period.
The notes may be called at par plus any coupon on any quarterly observation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below the barrier price, 55% of the initial share price, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
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| Underlying stock: | ViacomCBS Inc.
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| Amount: | $2,219,000
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| Maturity: | Aug. 25, 2022
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| Coupon: | 7.85% annual rate, payable each quarter that the stock closes at or above barrier price on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless underlying stock finishes below barrier price, in which case investors will receive 25.1826 shares or cash
|
| Call option: | At par plus any coupon on any quarterly observation date
|
| Initial share price: | $39.71
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| Coupon barrier level: | $21.8405; 55% of initial levels
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| Barrier levels: | $21.8405; 55% of initial levels
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| Pricing date: | Aug. 20
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| Settlement date: | Aug. 27
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 89117GCA3
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