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Published on 2/27/2023 in the Prospect News Structured Products Daily.

New Issue: TD Bank sells $225,000 of autocallable contingent interest buffer notes on Schlumberger

Chicago, Feb. 27 – Toronto-Dominion Bank priced $225,000 of autocallable contingent interest buffer notes with memory interest due May 24, 2023 linked to the performance of the common stock of Schlumberger NV, according to a 424B2 filing with the Securities and Exchange Commission.

Quarterly, the notes will pay a contingent interest payment at the rate of 13.27% per year if the stock closes at or above the coupon barrier price, 70% of the initial share price, on the observation date for that period. Previously unpaid coupons will also be paid at that time.

The notes will be called at par plus the contingent interest payment if the shares of the stock close at or above the initial price on any quarterly observation date.

If the notes are not called, the payout at maturity will be par plus the final contingent interest payment unless the stock finishes below the buffer price, 70% of the initial share price, in which case investors will lose 1.4286% for each 1% decline beyond the 30% buffer.

TD Securities (USA) LLC is the agent.

Issuer:Toronto-Dominion Bank
Issue:Autocallable contingent interest buffer notes with memory interest
Underlying stock:Schlumberger NV
Amount:$225,000
Maturity:May 24, 2023
Coupon:13.27% annual rate, payable quarterly if the stock close at or above coupon barrier price on the relevant observation date; coupon payment events will also include previously unpaid coupons, if any
Price:Par
Payout at maturity:Par plus final contingent interest payment unless the stock finishes below buffer price, in which case 1.4286% loss for each 1% decline beyond the 30% buffer
Call:Automatically at par plus contingent interest payment if the stock closes at or above its initial share price on any quarterly observation date
Initial share price:$43.03
Coupon barrier price:$30.121; 70% of initial level
Buffer price:$30.121; 70% of initial level
Pricing date:May 6, 2022
Settlement date:May 11, 2022
Agent:TD Securities (USA) LLC
Fees:1%
Cusip:89114Y2Q3

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