By William Gullotti
Buffalo, N.Y., July 31 – Toronto-Dominion Bank priced $1 million of 0% contingent barrier notes due July 24, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return.
If the final index level is less than or equal to the initial index level but greater than or equal to the barrier value, 74% of the initial index level, the payout will be par.
If the final index level is less than the barrier value, investors will lose 1% for every 1% that the index declines from its initial level.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Contingent barrier notes
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| Underlying index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | July 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level is greater than initial index level, par plus index return; if final index level is less than or equal to initial index level but greater than or equal to barrier value, par; if final index level is less than barrier value, 1% loss for every 1% that index declines from initial level
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| Initial level: | 4,536.34
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| Barrier value: | 3,356.8916; 74% of initial level
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| Strike date: | July 21
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| Pricing date: | July 24
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| Settlement date: | July 27
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| Agent: | TD Securities (USA) LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1.5%
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| Cusip: | 89115F4U2
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