By Marisa Wong
Los Angeles, April 3 – Toronto-Dominion Bank priced $7.31 million of 0% contingent barrier return enhanced notes due March 31, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 151.7% of the gain.
If the final index level is less than or equal to the initial index level but greater than or equal to the barrier value, 80% of the initial index level, the payout will be par.
If the final index level is less than the barrier value, investors will lose 1% for every 1% that the index declines from its initial level.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Contingent barrier return enhanced notes
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Underlying index: | S&P 500 index
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Amount: | $7,305,000
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Maturity: | March 31, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 151.7% of any index gain; par if index finishes flat or falls by up to 20%; otherwise, 1% loss for every 1% that index declines from initial level
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Initial level: | 2,475.56
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Barrier value: | 1,980.448, 80% of initial level
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Final level: | Average of index closing levels for five trading days ending March 26, 2025
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Strike date: | March 25
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | TD Securities (USA) LLC
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Fees: | 3%
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Cusip: | 89114RGN0
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