By Wendy Van Sickle
Columbus, Ohio, June 26 – Toronto-Dominion Bank priced $3.7 million of callable contingent interest barrier notes due Sept. 19, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly interest payment at the rate of 7.9% per year if the index closes at or above the coupon barrier price, 65% of the initial share price, on the observation date for that period.
The notes may be called at par plus any coupon due on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the index finishes below the barrier price, 65% of the initial share price, in which case investors will be exposed to the decline of the index.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Callable contingent interest barrier notes
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Underlying index: | S&P 500
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Amount: | $3.7 million
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Maturity: | Sept. 19, 2024
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Coupon: | 7.9% annual rate, payable quarterly if the index closes at or above barrier price on the relevant observation date
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Price: | Par
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Payout at maturity: | Par plus the final coupon unless underlying index finishes below barrier price, in which case investor will be exposed to the decline of the index
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Call option: | At par plus any coupon due on any quarterly observation date after six months
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Initial share price: | 4,425.84
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Coupon barrier level: | 2,876.796, 65% of initial level
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Barrier levels: | 2,876.796; 65% of initial level
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Pricing date: | June 21
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Settlement date: | June 26
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Agent: | TD Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 89114YZL8
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