New Issue: TD Bank prices $12.57 million digital notes due 2020 tied to S&P Banks Select Industry

By Wendy Van Sickle

Columbus, Ohio, Nov. 9 – Toronto-Dominion Bank priced $12.57 million of 0% digital notes due Feb. 11, 2020 linked to the S&P Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the digital return of 12.35%.

If the index falls but not below 85% of its initial level, the payout will be par.

Otherwise, investors will lose 1.1765% for every 1% decline beyond 15%.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Digital notes
Underlying index:	S&P Banks Select Industry
Amount:	$12,565,000
Maturity:	Feb. 11, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If the final index level is greater than or equal to initial index level, $1,123.50 for each $1,000 principal amount of notes; if index falls by up to 15%, par; 1.1765% loss for every 1% decline beyond 15%
Initial level:	969.69
Buffer level:	824.2365, which is 85% of initial level
Pricing date:	Nov. 7
Settlement date:	Nov. 15
Underwriter:	TD Securities (USA) LLC
Fees:	1.09%
Cusip:	89114QEL8

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