By Wendy Van Sickle
Columbus, Ohio, Feb. 10 – Toronto-Dominion Bank priced $1.05 million of autocallable contingent interest barrier notes due Feb. 1, 2024 linked to the least performing of the iShares Russell 2000 exchange-traded fund, the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9% if each ETF closes at or above the 60% coupon barrier level on the observation date for that quarter.
The notes will be called at par plus the coupon if each ETF closes at or above its initial price on any quarterly observation date other than the final one.
If the notes are not called, the payout at maturity will be par plus the coupon unless any ETF finishes below the 60% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing ETF.
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 ETFs: | iShares Russell 2000 ETF, the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust
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| Amount: | $1.05 million
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| Maturity: | Feb. 1, 2024
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| Coupon: | 9%, payable quarterly if each ETF closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless any ETF finishes below barrier level, in which case 1% loss for each 1% decline of least-performing ETF
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| Call: | At par plus coupon if each ETF closes at or above its initial price on any quarterly observation date other than final one
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| Initial levels: | $209.39 for Russell, $319.43 for QQQ, $374.41 for S&P
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| Coupon/barrier levels: | $125.634 for Russell, $191.658 for QQQ, $224.646 for S&P; 60% of initial levels
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| Pricing date: | Jan. 28
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| Settlement date: | Feb. 3
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 89114T7B2
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