New Issue: TD Bank prices $663,000 autocallable barrier notes on Russell, S&P

By Kiku Steinfeld

Chicago, April 8 – Toronto-Dominion Bank priced $663,000 of 0% autocallable barrier notes due July 13, 2028 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a 10.8% annualized call premium if each index closes at or above its initial level on any biannual call date starting July 15, 2024.

If the notes are not called, the payout will be par unless any index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Autocallable barrier notes
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$663,000
Maturity:	July 13, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless any index finishes below barrier level if notes are not called, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
Call:	At par plus 10.8% annualized premium if each index closes at or above its initial level on any biannual call date starting July 15, 2024
Initial levels:	1,895.252 for Russell, 4,409.53 for S&P
Barrier levels:	1,326.6764 for Russell, 3,086.671 for S&P; 70% of initial levels
Pricing date:	July 10, 2023
Settlement date:	July 13, 2023
Agent:	TD Securities (USA) LLC
Fees:	0.75%
Cusip:	89115F3B5

© 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.