By Kiku Steinfeld
Chicago, Feb. 6 – Toronto-Dominion Bank priced $550,000 of autocallable contingent interest barrier notes with memory interest due Nov. 22, 2023 linked to the performance of the S&P 500 index according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 13.73% if the index closes at or above the 80% contingent interest barrier level on the observation date for that quarter. Previously unpaid coupons will also be paid.
The notes will be called at par plus 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 coupon due 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 and J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes with memory interest
|
| Underlying index: | S&P 500 index
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| Amount: | $550,000
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| Maturity: | Nov. 22, 2023
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| Coupon: | 13.73% annual rate, payable quarterly if the index closes at or above contingent interest barrier level on observation date for that quarter; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par 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: | 3,770.55
|
| Coupon barrier level: | 3,016.44; 80% of initial level
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| Barrier level: | 3,016.44; 80% of initial level
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| Pricing date: | Nov. 4, 2022
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| Settlement date: | Nov. 7, 2022
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| Agent: | TD Securities (USA) LLC with J.P. Morgan Securities LLC as placement agent
|
| Fees: | 1%
|
| Cusip: | 89114YG47
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