By William Gullotti
Buffalo, N.Y., July 7 – Toronto-Dominion Bank priced $1 million of 0% step down autocallable barrier notes due July 9, 2026 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 a 10.2% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the index finishes at or above 90% of initial level, the notes will be called at maturity for a payout of par plus 30.6%.
If the notes are not called at maturity, the payout will be par unless the index finishes below its 70% barrier level, in which case investors will lose 1% for the 1% decline of the index from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Step down autocallable barrier notes
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| Underlying indexes: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | July 9, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If index finishes at or above 90% of initial level, par plus 30.6%; if the index declines by more than 10% but not more than 30%, par; otherwise, full exposure to decline of index from initial level
|
| Call: | At par plus 10.2% annualized premium if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 4,446.82
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| Barrier level: | 3,112.774; 70% of initial level
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| Pricing date: | July 5
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| Settlement date: | July 10
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| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 89115F2G5
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