New Issue: TD Bank sells $685,000 autocallable contingent buffered notes on S&P 500

By Kiku Steinfeld

Chicago, May 12 – Toronto-Dominion Bank priced $685,000 of 0% autocallable contingent buffered notes due Jan. 9, 2025 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above its 90% call level on Jan. 19, 2024 the notes will be called at par plus a premium of 10.8%.

If the index finishes at or above its initial level, the payout at maturity will be the greater of par plus the index return and par plus 21.6%.

If the index declines up to the 20% buffer, investors will receive par. Otherwise, investors will lose 1.25% for each 1% decline of the index beyond 20%.

TD Securities (USA) LLC is the agent with J.P. Morgan Securities LLC as the placement agent.

Issuer:	Toronto-Dominion Bank
Issue:	Autocallable contingent buffered notes
Underlying index:	S&P 500 index
Amount:	$685,000
Maturity:	Jan. 9, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above its initial level, the greater of par plus 21.6% and par plus the index return; if the index declines no farther than buffer level, par; otherwise, investors will lose 1.25% for each 1% decline beyond 20%
Call:	If index closes at or above 90% call level on Jan. 19, 2024, at par plus 10.8% call premium
Initial level:	3,839.50
Call level:	3,505.572; 90% of initial level
Buffer level:	3,116.064; 80% of initial level
Pricing date:	Jan. 6, 2023
Settlement date:	Jan. 11, 2023
Agent:	TD Securities (USA) LLC with J.P. Morgan Securities LLC as placement agent
Fees:	1.5%
Cusip:	89114YLM1

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