By William Gullotti
Buffalo, N.Y., April 4 – Toronto-Dominion Bank priced $6.82 million of 0% autocallable market-linked step-up notes due March 31, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a premium of 9.15% per year if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level, 145% of the initial level, the payout at maturity will be par plus the index return.
If the index finishes flat or gains up to the step-up level, the payout will be par plus the step-up payment of 45%.
Investors will receive par if the index declines up to 15% and lose 1% for every 1% decline of the index beyond 15%.
BofA Securities, Inc. is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $6,817,480
|
| Maturity: | March 31, 2028
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index return; if the index finishes at or below the step-up level but at or above the initial level, par plus 45%; if the index declines no more than 15%, par; otherwise, lose 1% for every 1% decline beyond 15%
|
| Call: | Automatically at par plus a premium of 9.15% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 1,768.383
|
| Step-up level: | 2,564.155; 145% of initial level
|
| Buffer level: | 1,503.126; 85% of initial level
|
| Pricing date: | March 30
|
| Settlement date: | April 6
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 89116C883
|
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