By Wendy Van Sickle
Columbus, Ohio, Jan. 9 – Toronto-Dominion Bank priced $1.6 million of callable contingent interest barrier notes due Jan. 8, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly interest payment at the rate of 7.35% per year if the index closes at or above the coupon barrier level, 70% of the initial level, on the observation date for that period.
The notes may be called at par plus any coupon due on any monthly observation date after three months.
If the notes are not called, the payout at maturity will be par unless the index finishes below the barrier level, 50% of the initial level, in which case investors will lose 1% for every 1% decline of the index from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
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| Underlying index: | S&P 500 index
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| Amount: | $1.6 million
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| Maturity: | Jan. 8, 2029
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| Coupon: | 7.35% annual rate, payable monthly if the index closes at or above coupon barrier level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless underlying index finishes below barrier level, in which case investors will lose 1% for every 1% decline from initial level
|
| Call option: | At par plus any coupon due on any monthly observation date after three months
|
| Initial level: | 4,704.81
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| Coupon barrier level: | 3,293.367; 70% of initial level
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| Barrier level: | 2,352.405; 50% of initial level
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| Pricing date: | Jan. 3
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| Settlement date: | Jan. 8
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 89115FN98
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