New Issue: TD Bank prices $1 million index-linked notes tied to S&P 500

By William Gullotti

Buffalo, N.Y., April 29 – Toronto-Dominion Bank priced $1 million of 0% index-linked notes due June 28, 2023 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes flat or gains, the payout at maturity will be par plus the index return, subject to a maximum payout of par plus 7%.

If the index falls by no more than 22.28%, the payout will be par plus the absolute value of the index return. Otherwise, investors will lose 1.2867% for every 1% decline below 22.28%.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Index-linked notes
Underlying index:	S&P 500 index
Amount:	$1 million
Maturity:	June 28, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above initial level, par plus the index return capped at 7%; if the index declines no more than 22.28%, par plus the absolute value of the return; otherwise, 1.2867% loss for every 1% decline below 22.28%
Initial index level:	4,175.2
Buffer level:	3,244.96544; 77.72% of initial level
Pricing date:	April 26
Settlement date:	May 3
Agent:	TD Securities (USA) LLC
Fees:	1.17%
Cusip:	89114VD95

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