By Kiku Steinfeld
Chicago, Dec. 13 – Toronto-Dominion Bank priced $695,000 of autocallable contingent interest barrier notes with memory interest due May 3, 2023 linked to the common stock of salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual 16.64% rate if the stock closes at or above the 75% coupon barrier level on the observation date for that period, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be automatically called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline from the initial level.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes with memory interest
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| Underlying stock: | salesforce.com, inc.
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| Amount: | $695,000
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| Maturity: | May 3, 2023
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| Coupon: | 16.64% annual rate, payable quarterly if the stock closes at or above coupon barrier level on observation date for that period, in which case a coupon will also be paid for any previously unpaid quarter
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below barrier level, in which case 1% loss for each 1% decline from initial level
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| Call: | Automatically at par if the stock closes at or above initial level on any quarterly observation date
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| Initial level: | $189.41
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| Coupon barrier level: | $142.0575; 75% of initial level
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| Barrier level: | $142.0575; 75% of initial level
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| Pricing date: | April 14
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| Settlement date: | April 20
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| Agent: | TD Securities (USA) LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 89114VCM7
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