By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – Toronto-Dominion Bank priced $1.52 million of autocallable contingent interest barrier notes due Feb. 15, 2024 linked to the least performing of the shares of the SPDR Dow Jones industrial average ETF, iShares Russell 2000 ETF and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each fund closes at or above the 65% contingent interest barrier level on the observation date for that period.
The notes will be automatically called at par if each fund closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus any coupon due unless any fund finishes below the 60% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing fund from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying funds: | SPDR Dow Jones industrial average ETF, iShares Russell 2000 ETF and SPDR S&P 500 ETF Trust
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| Amount: | $1,515,000
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| Maturity: | Feb. 15, 2024
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| Coupon: | 7% annual rate, payable quarterly if each fund closes at or above contingent interest barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless any fund finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing fund from initial level
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| Call: | Automatically at par if each fund closes at or above initial level on any quarterly observation date
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| Initial levels: | $313.92 for Dow, $228.38 for Russell and $390.25 for S&P
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| Coupon barrier levels: | $204.048 for Dow, $148.447 for Russell and $253.6625 for S&P; 65% of initial levels
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| Barrier levels: | $188.352 for Dow, $137.028 for Russell and $234.15 for S&P; 60% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 16
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 89114TAW2
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