By William Gullotti
Buffalo, N.Y., March 2 – Toronto-Dominion Bank priced $1.85 million of autocallable contingent interest barrier notes with memory interest due March 14, 2023 linked to the performance of the S&P 500 index according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.35% if the index closes at or above the 80% contingent interest barrier level on the corresponding observation date. Previously unpaid coupons, if any, will automatically be included whenever a contingent payment is made.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the final coupon unless the index finishes below the 80% barrier level, in which case investors will lose 1% for each 1% decline from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes with memory interest
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,845,000
|
| Maturity: | March 14, 2023
|
| Coupon: | 11.35% annual rate, payable quarterly if the index closes at or above contingent interest barrier level on the relevant observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless the index finishes below barrier level, in which case 1% loss for each 1% decline from initial level
|
| Call: | At par plus coupon if the index closes above initial level on any quarterly call observation date
|
| Initial level: | 4,288.7
|
| Coupon barrier level: | 3,430.96; 80% of initial level
|
| Barrier level: | 3,430.96; 80% of initial level
|
| Strike date: | Feb. 24
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 3
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 89114V5H6
|
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