New Issue: TD Bank prices $1.23 million callable contingent interest barrier notes with memory on indexes

By Kiku Steinfeld

Chicago, Nov. 6 – Toronto-Dominion Bank priced $1.23 million of callable contingent interest barrier notes with memory interest due April 9, 2025 linked to the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly interest payment at the rate of 9.7% per year if the least-performing index closes at or above the coupon barrier level, 70% of the initial level, on the observation date for that period. Previously unpaid interest, if any, will be automatically included whenever an interest payment is paid.

The notes may be called at par plus any coupon due on any monthly observation date after six months.

If the notes are not called, the payout at maturity will be par plus the final coupon unless the least-performing index finishes below the barrier level, 70% of the initial level, in which case investors will lose 1% for every 1% decline of the least-performing index from its initial level.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Callable contingent interest barrier notes with memory interest
Underlying index:	S&P 500 index and Russell 2000 index
Amount:	$1,225,000
Maturity:	April 9, 2025
Coupon:	9.7% annual rate, payable monthly if the least-performing index closes at or above barrier level on the relevant observation date; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	Par plus the final coupon unless underlying least-performing index finishes below barrier level, in which case investors will lose 1% for every 1% decline from initial level
Call option:	At par plus any coupon due on any monthly observation date after six months
Initial levels:	1,769.655 for Russell, 4,100.60 for S&P
Coupon barrier levels:	1,238.7585 for Russell, 2,870.42 for S&P; 70% of initial levels
Barrier levels:	1,238.7585 for Russell, 2,870.42 for S&P; 70% of initial levels
Pricing date:	April 4, 2023
Settlement date:	April 10, 2023
Agent:	TD Securities (USA) LLC
Fees:	0.9567%
Cusip:	89114YV24

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