New Issue: TD sells $500,000 contingent interest barrier notes on S&P

By Kiku Steinfeld

Chicago, Jan. 24 – Toronto-Dominion Bank priced $500,000 of contingent interest barrier notes due June 11, 2025 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 coupon at an annual rate of 7.45% if the index closes at or above the 70% contingent interest barrier level on the corresponding observation date.

The payout at maturity will be par plus the final coupon unless the index finishes below the 70% barrier level, in which case investors will lose 1% for the 1% decline of the lesser-performing index from its initial level.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Contingent interest barrier notes
Underlying index:	S&P 500 index
Amount:	$500,000
Maturity:	June 11, 2025
Coupon:	7.45% annual rate, payable monthly if the index closes at or above contingent interest barrier level on the corresponding observation date
Price:	Par
Payout at maturity:	Par plus final coupon unless the index finishes below barrier level, in which case 1% loss for the 1% decline of least-performing index from initial level
Initial level:	4,283.85
Coupon barrier level:	2,998.695; 70% of initial level
Barrier level:	2,998.695; 70% of initial level
Pricing date:	June 6, 2023
Settlement date:	June 9, 2023
Agent:	TD Securities (USA) LLC
Fees:	0.3%
Cusip:	89114YZ61

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