By Kiku Steinfeld
Chicago, Dec. 5 – Toronto-Dominion Bank priced $500,000 of autocallable contingent interest barrier notes due April 25, 2024 linked to the common stock of Qualcomm 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 13.57% if the stock closes at or above the coupon barrier price, 50% of the initial share price, on the observation date for that period.
The notes will be called at par plus any 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
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying stock: | Qualcomm Inc.
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| Amount: | $500,000
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| Maturity: | April 25, 2024
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| Coupon: | 13.57% annual rate, payable quarterly if underlier finishes above 50% of initial level on related observation date
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| 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
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| Call: | Automatically at par plus any 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: | $271.04
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| Coupon barrier/barrier level: | $135.52, 50% of initial levels
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.35%
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| Cusip: | 89114YW98
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