By Kiku Steinfeld
Chicago, Aug. 24 – Toronto-Dominion Bank priced $500,000 of callable contingent interest barrier notes due June 22, 2023 linked to the common stock of Weyerhaeuser Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent interest payment at the rate of 9.3% per year if the stock closes at or above the coupon barrier price, 70% of the initial share price, on the observation date for that period.
The notes may be called at par plus any coupon on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the barrier price, 70% of the initial share price, in which case investors will receive 29.9312 shares of the stock.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying stock: | Weyerhaeuser Co.
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| Amount: | $500,000
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| Maturity: | June 22, 2023
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| Coupon: | 9.3% annual rate, payable each quarter that the stock closes at or above barrier price on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless underlying stock finishes below barrier price, in which case investors will receive 29.9312 shares of the stock
|
| Call option: | At par plus any coupon on any quarterly observation date
|
| Initial share price: | $33.41
|
| Coupon barrier level: | $23.387; 70% of initial levels
|
| Barrier levels: | $23.387; 70% of initial levels
|
| Pricing date: | June 18
|
| Settlement date: | June 24
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 89117GAX5
|
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