By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Toronto-Dominion Bank priced $8.17 million of 0% autocallable market-linked step-up notes due Sept. 26, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a premium of 13.65% per year if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level, 140% of the initial level, the payout at maturity will be par plus the index return.
If the index finishes flat or gains up to the step-up level, the payout will be par plus the step-up payment of 40%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $8,171,390
|
| Maturity: | Sept. 26, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index return; if the index finishes at or below the step-up level but at or above the initial level, par plus 40%; otherwise, full exposure to any index decline
|
| Call: | Automatically at par plus a premium of 13.65% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 3,901.35
|
| Step-up level: | 5,461.89; 140% of initial level
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 22
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 891162448
|
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