By Kiku Steinfeld
Chicago, April 18 – Toronto-Dominion Bank priced $1.74 million of autocallable contingent interest barrier notes due Oct. 3, 2023 linked to the common stock of Opendoor Technologies Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent interest payment at the annual rate of 13.65% if the stock closes at or above the coupon barrier price, 65% of the initial share price, on the observation date for that period.
The notes will be called at par if the shares close at or above 85% of the initial price 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, 55% of the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or the cash equivalent at the option of the issuer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stock: | Opendoor Technologies Inc.
|
| Amount: | $1,735,000
|
| Maturity: | Oct. 3, 2023
|
| Coupon: | 13.65% annual rate, payable quarterly if underlier finishes above 65% of initial level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below barrier price, in which case 49.8753 shares per note or cash equivalent at the option of the issuer
|
| Call: | Automatically at par if shares of the stock close at or above 85% of initial price on any quarterly observation date
|
| Initial share price: | $20.05
|
| Coupon barrier/barrier level: | $13.0325; 65% of initial levels
|
| Final barrier level: | $11.0275; 55% of initial levels
|
| Pricing date: | Sept. 28, 2021
|
| Settlement date: | Oct. 1, 2021
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 89117GCP0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
