By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – Toronto-Dominion Bank priced $11.81 million of 9.15% callable fixed-interest barrier notes due Sept. 29, 2022 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be callable at par plus the coupon on any quarterly call date.
The payout at maturity will be par plus the coupon unless the stock finishes below the barrier price, 75% of the initial share price, in which case investors will be fully exposed to the stock’s decline, payable in shares of the stock.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable fixed interest barrier notes
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| Underlying stock: | Apple Inc.
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| Amount: | $11.81 million
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| Maturity: | Sept. 29, 2022
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| Coupon: | 9.15% annual rate, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless stock finishes below barrier price, in which case full exposure to stock’s decline, payable in 6.8064 shares
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| Call option: | At par plus coupon on any quarterly call date
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| Initial share prices: | $146.92
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| Barrier levels: | $110.195; 75% of initial share price
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| Pricing date: | Sept. 24
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| Settlement date: | Sept. 30
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0%
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| Cusip: | 89117GCN5
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