New Issue: TD Bank sells $23.63 million digital notes linked to S&P 500

By Kiku Steinfeld

Chicago, May 20 – Toronto-Dominion Bank priced $23.63 million of 0% digital index-linked notes due Feb. 16, 2022 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 or equal to 87.5% of the initial index level, the payout at maturity will be par plus $1,171.80 per each $1,000 amount of notes.

If the index finishes below the 87.5% threshold level, investors will lose 1.1429% for every 1% index decline beyond 12.5%.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Digital index-linked notes
Underlying index:	S&P 500 index
Amount:	$23,628,000
Maturity:	Feb. 16, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus $1,171.80 per each $1,000 amount of notes unless index falls by more than threshold level, in which case 1.1429% loss for every 1% decline beyond 12.5%
Initial level:	2,852.50
Threshold level:	2,495.9375, 87.5% of initial level
Pricing date:	May 14
Settlement date:	May 21
Agent:	TD Securities (USA) LLC
Fees:	None
Cusip:	89114RKZ8

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