By William Gullotti
Buffalo, N.Y., July 26 – Toronto-Dominion Bank priced $1.91 million of 6.55% autocallable fixed-interest barrier notes with daily close monitoring knock-in due July 20, 2022 linked to the common stocks of Adobe Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus the coupon if the shares of each stock close at or above the initial share price on any quarterly call observation date.
If the notes have not been called, the payout at maturity will be par unless either stock closes below its 60% barrier value during the life of the notes and either stock finishes below its initial level, in which case investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial share price.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable fixed interest barrier notes with daily close monitoring knock-in
|
| Underlying stocks: | Adobe Inc., FedEx Corp.
|
| Amount: | $1.91 million
|
| Maturity: | July 20, 2022
|
| Coupon: | 6.55% annual rate, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock closes below its barrier value during the life of the notes and either stock finishes below its initial level, in which case investors will receive the physical delivery amount of the worst performing stock
|
| Call: | Automatically at par plus coupon if shares of each stock close at or above initial share price on any quarterly call observation date
|
| Initial share prices: | $608.83 for Adobe, $295.86 for FedEx
|
| Barrier levels: | $365.298 for Adobe, $177.516 for FedEx; 60% of initial share prices
|
| Physical delivery levels: | 1.6425 for Adobe, 3.38 for FedEx; shares per note
|
| Strike date: | July 14
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.25%
|
| Cusip: | 89117GBU0
|
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