By Kiku Steinfeld
Chicago, Nov. 28 – Toronto-Dominion Bank priced $250,000 of autocallable contingent interest barrier notes with memory interest due March 28, 2024 linked to the common stock of AT&T Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual 10.34% rate if the stock closes at or above the 70% coupon barrier level on the observation date for that period.
The notes will be automatically called at par if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below the 70% barrier level, in which case investors will lose 1% for each 1% decline from the initial level, payable in shares or cash at the issuer’s option.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes with memory interest
|
| Underlying stock: | AT&T Inc.
|
| Amount: | $250,000
|
| Maturity: | March 28, 2024
|
| Coupon: | 10.34% annual rate, payable quarterly if the stock closes at or above coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below barrier level, in which case 41.9463 shares or cash at the issuer’s option
|
| Call: | Automatically at par if the stock closes at or above initial level on any quarterly observation date after six months
|
| Initial level: | $23.84
|
| Coupon barrier level: | $16.688; 70% of initial level
|
| Barrier level: | $16.688; 70% of initial level
|
| Pricing date: | March 25, 2022
|
| Settlement date: | March 30, 2022
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 89114VAZ0
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
