By Wendy Van Sickle
Columbus, Ohio, July 1 – Toronto-Dominion Bank priced $6.23 million of autocallable contingent interest barrier notes due June 27, 2023 linked to the common stock of Dow Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.49% per year if the shares close at or above the barrier price, 75% of the initial share price, on the valuation date for that quarter
After six months, the notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any valuation date other than the final valuation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the barrier price, in which case investors will receive 15.748 Dow shares or the cash equivalent.
TD Securities (USA) LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying stock: | Dow Inc.
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| Amount: | $6,234,000
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| Maturity: | June 27, 2023
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 10.49% per year if shares close at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless stock finishes below barrier price, in which case 15.748 Dow shares or the cash equivalent
|
| Call: | After six months automatically at par plus contingent coupon if shares close at or above initial share price on any valuation date other than final valuation date
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| Initial share price: | $63.50
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| Barrier price: | $47.625, 75% of initial share price
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| Pricing date: | June 22
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| Settlement date: | June 28
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| Agent: | TD Securities (USA) LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1.75%
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| Cusip: | 89117GAT4
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