By Wendy Van Sickle
Columbus, Ohio, March 30 – Toronto-Dominion Bank priced $3.61 million of autocallable contingent interest barrier notes due April 6, 2022 linked to the common stock of Chewy Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent interest payment at the annual rate of 16.16% if the stock closes at or above the coupon barrier price, 50% of the initial share price, on the observation date for that period. Previously unpaid coupons will also be paid.
The notes will be called at par plus the contingent interest payment if the shares close at or above the initial price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par plus any contingent interest payment due unless the stock finishes below the barrier price, 50% of the initial share price, in which case investors will be fully exposed to the decline.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
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| Underlying stock: | Chewy Inc.
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| Amount: | $3,605,000
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| Maturity: | April 6, 2022
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| Coupon: | 16.16% annual rate, payable quarterly if underlier finishes above 50% of initial level on related observation date; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par plus any contingent interest payment due unless the stock finishes below barrier price, in which case full exposure to the stock’s decline
|
| Call: | Automatically at par plus contingent interest payment if shares of the stock close at or above initial price on any quarterly observation date
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| Initial share price: | $82.53
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| Coupon barrier/barrier level: | $41.250, 50% of initial levels
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| Pricing date: | March 19
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| Settlement date: | March 24
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1%
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| Cusip: | 89114TE99
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