By William Gullotti
Buffalo, N.Y., July 12 – Toronto-Dominion Bank priced $1.92 million of autocallable leveraged barrier notes due July 3, 2025 linked to the iShares 20+ Year Treasury Bond ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at plus a 5% call premium if the ETF closes at or above call level, 105% of initial level, on Dec. 28, 2023.
If the notes are not called and the ETF finishes above its initial level, the payout at maturity will be par plus 1.5 times the gain of the ETF.
If the ETF finishes flat or falls by up to 20% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable leveraged barrier notes
|
| Underlying fund: | iShares 20+ Year Treasury Bond ETF
|
| Amount: | $1,919,000
|
| Maturity: | July 3, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any gain of the ETF; par if the ETF finishes flat or falls by up to 20%; otherwise, full exposure to decline of the ETF from initial level
|
| Call: | At par plus a 5% call premium if the ETF closes at or above call level on Dec. 28, 2023
|
| Initial level: | $103.61
|
| Call level: | $108.7905; 105% of initial level
|
| Barrier level: | $82.888; 80% of initial level
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.43%
|
| Cusip: | 89114YZN4
|
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