By William Gullotti
Buffalo, N.Y., March 13 – Toronto-Dominion Bank priced $1 million of 0% autocallable buffered index-linked notes due March 12, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 8.92% call premium if the index closes at or above its initial level on March 15, 2024.
If the index finishes at or above its initial level, the payout at maturity will be par plus 300% of the gain.
If the index declines but finishes at or above its buffer level, 90% of initial level, the payout will be par. Otherwise, investors will lose 1.1111% for every 1% decline beyond 10%.
TD Securities (USA) LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable buffered index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | March 12, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above initial level, par plus 300% of index return; if index declines by no more than 10%, par; otherwise, 1.1111% loss for every 1% decline beyond 10%
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| Call: | At par plus 8.92% premium if the index closes at or above its initial level on March 15, 2024
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| Initial level: | 3,992.01
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| Buffer level: | 3,592.809; 90% of initial level
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| Pricing date: | March 8
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| Settlement date: | March 15
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| Agents: | TD Securities (USA) LLC and Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 89114YTD3
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