By William Gullotti
Buffalo, N.Y., Feb. 7 – Toronto-Dominion Bank priced $1.11 million of 7.55% callable fixed interest buffer notes due Feb. 8, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes may be called at par plus the fixed coupon on any quarterly observation date.
The payout at maturity will be par unless the index finishes below its buffer level, 85% of the initial level, in which case investors will lose 1% for each 1% decline beyond 15%.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable fixed interest buffer notes
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| Underlying index: | S&P 500 index
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| Amount: | $1,112,000
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| Maturity: | Feb. 8, 2024
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| Coupon: | 7.55%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless the index finishes below buffer level, in which case 1% loss for each 1% decline beyond 15%
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| Call option: | At par plus coupon on any quarterly observation date
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| Initial level: | 4,136.48
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| Buffer level: | 3,516.008; 85% of initial level
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 8
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| Agent: | TD Securities (USA) LLC
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| Fees: | None
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| Cusip: | 89114YP39
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