By Kiku Steinfeld
Chicago, June 13 – Toronto-Dominion Bank priced $500,000 of autocallable contingent interest barrier notes due Nov. 22, 2024 linked to the common stocks of Royal Caribbean Cruises Ltd. and Carnival Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 17.12% if each stock closes at or above its 60% coupon barrier on the review date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
Otherwise, investors will be exposed to the stock’s decline from the initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying stock: | Royal Caribbean Cruises Ltd. and Carnival Corp.
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| Amount: | $500,000
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| Maturity: | Nov. 22, 2024
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| Coupon: | 17.12% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than final date
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| Payout at maturity: | Par if stock finishes at or above 60% barrier price; otherwise full exposure to losses
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| Initial stock prices: | $20.49 for Carnival, $80.47 for Royal
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| Barrier prices: | $12.294 for Carnival, $48.282 for Royal, 60% of initial stock prices
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| Pricing date: | Nov. 19, 2021
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| Settlement date: | Nov. 24, 2021
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.5%
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| Cusip: | 89114TVH2
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