By William Gullotti
Buffalo, N.Y., Dec. 14 – Toronto-Dominion Bank priced $4.91 million of autocallable contingent interest buffer notes with memory interest due Dec. 26, 2024 linked to the performance of the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Quarterly, the notes will pay a contingent interest payment at the rate of 12.68% per year if the stock closes at or above the coupon barrier price, 85% of the initial share price, on the observation date for that period. Previously unpaid interest payments will be automatically included whenever interest is paid.
The notes will be called at par plus the contingent interest payment if the shares of the stock close at or above the initial price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par plus the final contingent interest payment unless the stock finishes below the 85% buffer price, in which case investors will lose 1.1765% for each 1% decline below the buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest buffer notes with memory interest
|
| Underlying stock: | Boeing Co.
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| Amount: | $4,914,000
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| Maturity: | Dec. 26, 2024
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| Coupon: | 12.68% annual rate, payable quarterly if the stock closes at or above coupon barrier price on the relevant observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus final contingent interest payment unless the stock finishes below buffer price, in which case lose 1.1765% for each 1% decline beyond 15%
|
| Call: | Automatically at par plus contingent interest payment if the stock closes at or above its initial share price on any quarterly observation date
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| Initial share price: | $244.70
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| Coupon barrier price: | $207.995; 85% of initial level
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| Buffer price: | $207.995; 85% of initial level
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| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 13
|
| Agent: | TD Securities (USA) LLC
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| Fees: | 1%
|
| Cusip: | 89115FK67
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