By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Toronto-Dominion Bank priced $1.24 million of autocallable contingent interest barrier notes due Aug. 30, 2024 linked to the common stocks of Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes will pay a contingent interest payment at the rate of 8% per year if each stock closes at or above the barrier price, 65% 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 of each stock close at or above the initial price on any semiannual call observation date other than the final one.
The payout at maturity will be par plus the final contingent interest payment unless the least performing stock finishes below the barrier price, in which case investors will be fully exposed to the laggard stock’s decline.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying stocks: | Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co.
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| Amount: | $1,235,000
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| Maturity: | Aug. 30, 2024
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| Coupon: | Each six months, notes pay contingent interest at rate of 8% per year if all shares close at or above barrier price on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent interest payment unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline
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| Call: | Automatically at par plus contingent interest payment if shares of each stock close at or above initial price on any semiannual call observation date
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| Initial share prices: | $42.49 for BofA, $72.99 for Citigroup, $163.05 for JPMorgan
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| Barrier prices: | $27.6185 for BofA, $47.4435 for Citigroup, $105.9825 for JPMorgan; 65% of initial share prices
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| Pricing date: | Aug. 27
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| Settlement date: | Sept. 1
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.25%
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| Cusip: | 89114TQF2
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