By Wendy Van Sickle
Columbus, Ohio, Dec. 22 – Toronto-Dominion Bank priced $5 million of 0% buffered notes due Jan. 18, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 88% of the index return.
Investors will receive par if the index finishes flat or falls by up to 10%. If the index falls by more than 10% but not by more than 20%, investors will lose 1% for each 1% decline beyond 10%. Otherwise, investors will lose 10% plus 1.125% for every 1% index decline beyond 20%.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Buffered notes
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| Underlying index: | S&P 500 index
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| Amount: | $5 million
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| Maturity: | Jan. 18, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 88% of any index gain; par if index falls by up to 10%; if index falls by more than 10% but less than 20%, 1% loss for each 1% index loss beyond 10%; otherwise, loss of 10% plus loss of 1.125% loss for every 1% index decline beyond 20%
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| Initial index level: | 4,634.09
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 21
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.73%
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| Cusip: | 89114TWB4
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