By Sarah Lizee
Olympia, Wash., April 30 – Toronto-Dominion Bank priced $2.6 million of 0% dual directional barrier notes due May 1, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the index return, capped at 37.6%.
If the index finishes below its initial level but at or above the 62.4% barrier level, the payout will be par plus the absolute value of the index return.
If the index finishes below the barrier level, investors will lose 1% for every 1% index decline below the initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Dual directional barrier notes
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| Underlying index: | Russell 2000
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| Amount: | $2.6 million
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| Maturity: | May 1, 2025
|
| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any index gain, capped at 37.6%; if the index finishes below its initial level but at or above the barrier level, par plus the absolute value of the index return; otherwise, 1% loss for every 1% index decline below the initial level
|
| Initial level: | 1,281.878
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| Barrier level: | 799.8919, 62.4% of initial level
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| Final level: | Average of index closing levels for five trading days ending April 28, 2025
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| Pricing date: | April 27
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| Settlement date: | April 30
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 89114RJU1
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