By William Gullotti
Buffalo, N.Y., April 3 – Toronto-Dominion Bank priced $3 million of autocallable contingent interest barrier notes due March 25, 2027 linked to the common stock of Nvidia Corp., 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 17% if the stock closes at or above the coupon barrier price, 60% of the initial share price, on the observation date for that period.
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 the final contingent interest payment unless the stock finishes below the barrier price, 60% of the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stock: | Nvidia Corp.
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| Amount: | $3,004,000
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| Maturity: | March 25, 2027
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| Coupon: | 17% annual rate, payable quarterly if underlier finishes above 60% of initial level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final contingent interest payment unless the stock finishes below barrier price, in which case the physical delivery amount of 1.0606 shares per note
|
| 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: | $942.89
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| Coupon barrier/barrier level: | $565.734; 60% of initial levels
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| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.67%
|
| Cusip: | 89117GEN3
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