New Issue: TD Bank sells $5.75 million market-linked securities on S&P, Russell, Nasdaq

By William Gullotti

Buffalo, N.Y., April 4 – Toronto-Dominion Bank priced $5.75 million of 0% market-linked autocallable securities with contingent downside due Oct. 27, 2022 linked to the lowest performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Quarterly, the notes will pay a contingent interest payment at the rate of 7.65% per year if each index closes at or above the coupon barrier price, 70% of the initial share price, on the observation date for that period.

The notes will be automatically called at par plus the coupon if each index closes at or above their initial levels on any quarterly observation date other than the first and final.

The payout at maturity will be par unless any index falls by more than 30% in which case investors will be fully exposed to the losses of the worst performer.

TD Securities (USA) LLC and Wells Fargo Securities are the agents.

Issuer:	Toronto-Dominion Bank
Issue:	Market-linked securities – autocallable with contingent coupon and contingent downside
Underlying indexes:	S&P 500, Russell 2000, Nasdaq-100
Amount:	$5,748,000
Maturity:	Oct. 27, 2022
Coupon:	7.65% annual rate, payable quarterly if all indexes close at or above their coupon barrier prices on the relevant observation date
Price:	Par
Payout at maturity:	Par unless any index falls by more than threshold level in which case full exposure to losses of worst performer
Call:	Automatically at par plus coupon if each index closes at or above initial levels on any quarterly observation date other than the first and final
Initial levels:	4,211.47 for S&P, 2,295.456 for Russell, 13,970.21 for Nasdaq
Coupon barrier levels:	2,948.029 for S&P, 1,606.8192 for Russell, 9,779.147 for Nasdaq; 70% of initial levels
Downside threshold levels:	2,948.029 for S&P, 1,606.8192 for Russell, 9,779.147 for Nasdaq; 70% of initial levels
Pricing date:	April 29, 2021
Settlement date:	May 4, 2021
Agents:	TD Securities (USA) LLC and Wells Fargo Securities
Fees:	1.525%
Cusip:	89114TEU2

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