By William Gullotti
Buffalo, N.Y., Sept. 19 – Toronto-Dominion Bank priced $20.26 million of 0% autocallable Strategic Accelerated Redemption Securities due Sept. 28, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
TD Bank sold 2,026,029 units with a face amount of $10 each, for a total principal amount of $20,260,290. The issuer sold 327,931 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $20,243,893.45.
The notes will be called at par plus a premium of 8.4% per year if the closing level of the index is greater than or equal to its starting value on any annual observation date.
If the notes are not called at maturity and the index declines by no more than 15%, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% that the index declines beyond 15%.
BofA Securities, Inc. is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable Strategic Accelerated Redemption Securities
|
| Underlying index: | S&P 500 index
|
| Principal amount: | $20,260,290
|
| Proceeds: | $20,243,893.45
|
| Maturity: | Sept. 28, 2029
|
| Coupon: | 0%
|
| Price: | $9.95 per unit for 327,931 units; par of $10 for remainder
|
| Payout at maturity: | If index finishes at or above threshold value, par; otherwise, 1% loss for every 1% decline beyond 15%
|
| Call: | At par plus premium of 8.4% per year if index closes at or above its initial value on any annual observation date
|
| Initial value: | 4,505.1
|
| Threshold value: | 3,829.34; 85% of initial value
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 21
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.5% for 327,931 units; 2% for remainder
|
| Cusip: | 89116C396
|
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