By Wendy Van Sickle
Columbus, Ohio, June 21 – Toronto-Dominion Bank priced $2.2 million of market-linked securities – autocallable with contingent coupon and contingent downside due June 23, 2026 linked to the stock performance of Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 12.5% if the stock closes at or above its 50% downside threshold on the relevant observation date.
The notes will be called at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called and the stock finishes at or above its downside threshold, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the stock’s decline from its initial level.
Wells Fargo Securities, LLC and TD Securities (USA) LLC are the agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying stock: | Freeport-McMoRan Inc.
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| Amount: | $2.2 million
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| Maturity: | June 23, 2026
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| Coupon: | 12.5% per year, payable quarterly if the stock closes at or above its downside threshold on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock finishes below downside threshold, in which case 1% loss per 1% decline from initial level
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| Call: | Automatically at par plus coupon if the stock closes at or above initial level on any quarterly observation date after six months
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| Initial level: | $40.08
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| Downside threshold: | $20.04; 50% of initial level
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| Pricing date: | June 15
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| Settlement date: | June 21
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| Agents: | Wells Fargo Securities, LLC and TD Securities (USA) LLC
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| Fees: | 2.375%
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| Cusip: | 89114YYK1
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