Chicago, May 11 – Toronto-Dominion Bank priced $750,000 of autocallable contingent interest barrier notes with daily close monitoring knock-in level due July 20, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent interest payment monthly at the annual rate of 9.31% if the fund closes at or above the coupon barrier level, 75% of the initial fund level, on the observation date for that period.
The notes will be called at par if the fund closes at or above the initial level on any monthly call observation date after six months.
If the notes are not called, the payout at maturity will be par if the ETF finishes above its initial level or has never closed below the 75% barrier level during the life of the notes. Otherwise, investors will be fully exposed to the decline.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes with daily close monitoring knock-in level
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| Underlying fund: | SPDR S&P 500 ETF Trust
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| Amount: | $750,000
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| Maturity: | July 20, 2023
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| Coupon: | 9.31% annual rate, payable monthly if fund closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par if ETF closes above initial level or never closes below barrier level during life of notes; otherwise, full exposure to ETF
|
| Call: | Automatically at par if fund closes at or above initial level on any monthly call observation date after six months
|
| Initial fund level: | $366.65
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| Coupon barrier: | $274.9875, 75% of initial level
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| Barrier level: | $274.9875, 75% of initial level
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| Pricing date: | June 16, 2022
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| Settlement date: | June 22, 2022
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| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 89114Y5H0
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