By Wendy Van Sickle
Columbus, Ohio, May 17 – Toronto-Dominion Bank priced $1.09 million of 11.52% callable fixed-interest barrier notes due May 3, 2022 linked to the common stock of Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be callable at par plus the coupon on any quarterly call date after six months.
The payout at maturity will be par plus the coupon unless the stock finishes below the barrier price, 70% of the initial share price, in which case investors will be fully exposed to the stock’s decline, payable in shares of the stock.
TD Securities (USA) LLC is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Callable fixed interest barrier notes
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Underlying stock: | Zoom Video Communications, Inc.
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Amount: | $1,092,000
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Maturity: | May 3, 2022
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Coupon: | 11.52% annual rate, payable quarterly
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Price: | Par
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Payout at maturity: | Par plus coupon unless stock finishes below barrier price, in which case full exposure to stock’s decline, payable in shares
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Call option: | At par plus coupon on any quarterly call date after six months
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Initial share prices: | $331.25
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Barrier levels: | $231.875; 70% of initial share price
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Pricing date: | April 28
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Settlement date: | May 3
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Agent: | TD Securities (USA) LLC
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Fees: | 1%
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Cusip: | 89117GAA5
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