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Published on 5/24/2023 in the Prospect News Structured Products Daily.

New Issue: TD sells $500,000 callable contingent interest barrier notes on two ETFs

Chicago, May 24 – Toronto-Dominion Bank priced $500,000 of callable contingent interest barrier notes due July 6, 2026 linked to the least performing of 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.

The notes will pay a quarterly contingent coupon at an annual rate of 10.13% if each ETF closes at or above the 60% contingent interest barrier level on the corresponding observation date.

The notes will be callable at par on any quarterly observation date after six months.

The payout at maturity will be par unless any ETF finishes below the 60% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing ETF from its initial level.

TD Securities (USA) LLC is the agent.

Issuer:Toronto-Dominion Bank
Issue:Callable contingent interest barrier notes
Underlying ETFs:Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
Amount:$500,000
Maturity:July 6, 2026
Coupon:10.13% annual rate, payable quarterly if each fund closes at or above contingent interest barrier level on the corresponding observation date
Price:Par
Payout at maturity:Par unless either ETF finishes below barrier level, in which case 1% loss for each 1% decline of least-performing ETF from initial level
Call option:At par on any quarterly observation date after six months
Initial levels:$283.80 for QQQ, $380.34 for S&P
Coupon barrier levels:$170.28 for QQQ, $228.20 for S&P; 60% of initial levels
Barrier levels:$170.28 for QQQ, $228.20 for S&P; 60% of initial levels
Strike date:June 29, 2022
Pricing date:June 30, 2022
Settlement date:July 6, 2022
Agent:TD Securities (USA) LLC
Fees:0.35%
Cusip:89114Y6G1

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