By William Gullotti
Buffalo, N.Y., April 4 – Toronto-Dominion Bank priced $1.35 million of autocallable contingent interest barrier notes with memory interest due May 8, 2023 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual 12.4% rate if the stock closes at or above the 70% contingent interest barrier level on the observation date for that period, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be automatically called at par plus any coupon due if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus any coupon due unless the stock finishes below the 70% barrier level, in which case investors will lose 1% for each 1% decline from the initial level.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes with memory interest
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $1,350,000
|
| Maturity: | May 8, 2023
|
| Coupon: | 12.4% annual rate, payable quarterly if the stock closes at or above contingent interest barrier level on observation date for that period, in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless the stock finishes below barrier level, in which case 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par plus coupon if the stock closes at or above initial level on any quarterly observation date
|
| Initial level: | $11.63
|
| Barrier level: | $8.141; 70% of initial level
|
| Pricing date: | May 4, 2021
|
| Settlement date: | May 7, 2021
|
| Agent: | TD Securities (USA) LLC
|
| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.5%
|
| Cusip: | 89114THT2
|
|
|
© 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.
