By Taylor Fox
New York, Feb. 16 – Toronto-Dominion Bank priced $3.1 million of 10% autocallable fixed-interest barrier notes due Jan. 18, 2023 linked to the shares of ConocoPhillips, Chevron Corp. and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above the initial share price on any monthly call observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the barrier price, 50% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline, payable in shares.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable fixed-interest barrier notes
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| Underlying stocks: | ConocoPhillips, Chevron Corp. and Valero Energy Corp.
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| Amount: | $3.1 million
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| Maturity: | Jan. 18, 2023
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| Coupon: | 10% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline, payable in shares
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| Call: | Automatically at par plus contingent coupon if shares of each stock close at or above initial share price on any monthly call observation date after six months
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| Initial share prices: | $47.42 for Conoco, $93.34 for Chevron and $59.51 for Valero
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| Barrier prices: | $23.71 for Conoco, $46.67 for Chevron and $29.755 for Valero, 50% of initial share prices
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 15
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.7871%
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| Cusip: | 891160SV6
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