By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – Toronto-Dominion Bank priced $5.04 million of callable contingent interest barrier notes due Dec. 11, 2023 linked to the common stocks of Intel Corp. and ViacomCBS Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Quarterly, the notes will pay a contingent interest payment at the rate of 18% per year if each stock closes at or above the coupon barrier price, 70% of the initial share price, on the observation date for that period.
The notes are callable at par quarterly.
If the notes are not called, the payout at maturity will be par unless the least performing stock finishes below the barrier price, 60% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline from its initial share price.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable contingent interest barrier notes
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| Underlying stocks: | Intel Corp. and ViacomCBS Inc.
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| Amount: | $5.04 million
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| Maturity: | Dec. 11, 2023
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| Coupon: | 18% annual rate, payable quarterly if each stock closes at or above coupon barrier level on relevant observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline from its initial share price
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| Call option: | Quarterly at par
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| Initial share prices: | $49.25 for Intel, $31.07 for ViacomCBS
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| Coupon barrier levels: | $34.475 for Intel, $21.749 for ViacomCBS; 70% of initial levels
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| Barrier levels: | $29.55 for Intel, $18.642 for ViacomCBS; 60% of initial levels
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 9
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.1%
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| Cusip: | 89114TWX6
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