By Kiku Steinfeld
Chicago, Sept. 13 – Toronto-Dominion Bank priced $900,000 of callable contingent interest barrier notes due July 6, 2023 linked to the common stock of Chewy, 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 14.28% per year if the stock closes at or above the coupon barrier price, 60% of the initial share price, on the observation date for that period.
The notes may be called at par plus any coupon due on any quarterly observation date after one year.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the barrier price, 60% of the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or, at the issuer’s option, cash.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable contingent interest barrier notes
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| Underlying stock: | Chewy, Inc.
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| Amount: | $900,000
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| Maturity: | July 6, 2023
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| Coupon: | 14.28% annual rate, payable quarterly if the stock closes at or above barrier price on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below barrier price, in which case 12.5455 shares per note or cash equivalent
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| Call option: | At par plus any coupon due on any quarterly observation date after one year
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| Initial share price: | $79.71
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| Coupon barrier level: | $47.826 60% of initial levels
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| Barrier levels: | $47.826; 60% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 7
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| Agent: | TD Securities (USA) LLC
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| Fees: | None
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| Cusip: | 89117GBL0
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