New Issue: TD prices $1.55 million review notes linked to S&P, Russell, Nasdaq

By Kiku Steinfeld

Chicago, April 26 – Toronto-Dominion Bank priced $1.55 million of 0% review notes due April 10, 2025 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium of 8.07% per year if each index closes at or above its call level on any annual call date. For each index, the call level is equal to its initial level on the first three review dates and its step-down call level, 80% of its initial level, on the final review date.

If the notes are not called and the final level of each index is greater than or equal to its barrier level, 70% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% that the least-performing index declines.

TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	Toronto-Dominion Bank
Issue:	Review notes
Underlying indexes:	Nasdaq-100 index, S&P 500 index, Russell 2000 index
Amount:	$1.55 million
Maturity:	April 10, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If notes are not called and final level of each index is greater than or equal to barrier level, par; otherwise, 1% loss for each 1% that least-performing index declines
Call:	Automatically at par plus call premium of 8.07% per year if each index closes at or initial level on April 5, 2022, April 5, 2023 or April 5, 2024 or if each index closes at or above step-down call level on April 7, 2025
Initial levels:	13,329.51 for Nasdaq, 2,253.903 for Russell, 4,019.78 for S&P
Step-down call levels:	10,663,608 for Nasdaq, 1,803.1224 for Russell, 3,215.896 for S&P; 80% of initial levels
Barrier levels:	9,330.657 for Nasdaq, 1,577.7321 for Russell, 2,813.909 for S&P; 70% of initial levels
Strike date:	April 1
Pricing date:	April 5
Settlement date:	April 12
Agents:	TD Securities (USA) LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
Fees:	2.4%
Cusip:	89114TFK3

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