AG真人官方

Offer overview: Toronto-Dominion Bank (TD) is marketing senior unsecured Market-Linked Notes (Series H) that mature 20 July 2028 and are linked to the lowest-performing of Broadcom Inc. (AVGO) and Intel Corporation (INTC) common stock. The $1,000-denominated securities feature three key mechanisms:

• Contingent coupon: paid monthly at 鈮�20.05% p.a. only if the worst stock鈥檚 closing price on the calculation day 鈮�60 % of its starting price (the 鈥渃oupon threshold鈥�). Missed thresholds skip the coupon for that month with no accrual.
• Auto-call: from Jan-2026 to Jun-2028, if the worst stock 鈮� its starting price on any monthly observation date, TD redeems at par plus that month鈥檚 coupon; the term could be as short as ~6 months.
• Principal repayment: if not called, investors receive par at maturity only when the worst stock 鈮�60 % of start. Otherwise, repayment equals par 脳 performance factor of the worst stock, exposing holders to >40 % loss and up to 100 % loss of principal.

Pricing & fees: Original offering price is $1,000. Estimated fair value on pricing date is $907.80鈥�$937.80 (6鈥�9% below issue price) reflecting structuring costs, agent commissions (up to 2.325% or $23.25), hedging, and TD鈥檚 internal funding rate. Securities will not be listed; liquidity is expected to be limited, with any secondary market likely at a discount.

Risk highlights:

• Principal at risk: a 鈮�40.1 % decline in the worst stock on final observation results in proportionate principal loss.
• No upside participation: returns are limited to coupons; appreciation of either stock does not enhance maturity value.
• Binary income stream: investors may receive few or no coupons if thresholds are not met.
• Credit exposure: payments rely solely on TD; the notes are not CDIC or FDIC insured.
• Tax uncertainty: TD and counsel intend to treat the notes as prepaid derivative contracts, but alternative IRS characterisations are possible.

Investor suitability: The notes may fit investors seeking high conditional income, willing to accept equity downside, limited upside, credit risk, potential illiquidity, and complex tax treatment. They are not appropriate for investors needing principal protection, fixed coupons, or ready liquidity.

The Toronto-Dominion Bank (TD) is offering senior unsecured Structured Investments titled 鈥淓nhanced Trigger Jump Securities with Auto-Callable Feature due July 19, 2030.鈥� The notes are linked to the worst-performing of the Russell 2000庐 Index (RTY) and TOPIX庐 (TPX) and are being sold at $1,000 per security with a minimum purchase of one security.

Auto-call mechanism. On 16 scheduled determination dates from July 2026 to April 2030, the notes will be automatically redeemed if the closing value of each underlying index is at or above its initial level. The early-redemption cash payment starts at $1,095.10 (year 1) and rises to $1,451.725 (April 2030), translating to an annualized return of roughly 9.51 %. Once called, no further payments are made.

Payment at maturity. If not redeemed early, investors face two outcomes on July 19 2030:

• $1,475.50 per security (47.55 % total return, 鈮�9.51 % p.a.) if every index closes at or above 70 % of its initial value (the 鈥渢rigger level鈥�).
• Principal loss on a 1:1 basis with the negative return of the worst-performing index if any index finishes below its trigger level, down to a minimum of $0.

Key structural features and costs. The securities pay no coupons or dividends, are not listed on any exchange, and may have limited or no secondary market. Investors bear TD鈥檚 senior unsecured credit risk. The estimated value on the pricing date is $905鈥�$940, below the $1,000 issue price, reflecting dealer commissions of $32.50 per note (2.75 % sales commission and 0.50 % structuring fee) and TD鈥檚 internal funding assumptions.

Risk highlights.

• Full principal is at risk; a single index breaching its 70 % trigger causes dollar-for-dollar losses.
• Performance is limited to fixed payouts; investors do not participate in index appreciation beyond the stated returns.
• Returns depend on index levels only on determination dates; intraperiod movements are irrelevant.
• Liquidity may be thin; any sale before redemption/maturity could occur at a substantial discount.
• Tax treatment is uncertain; TD and investors agree to treat the notes as prepaid derivative contracts, but the IRS could challenge this.

Use case. The notes target investors who can tolerate equity-like downside, are comfortable relying on TD鈥檚 credit, and are seeking a capped, 9.51 % p.a. return potential contingent on two equity indices staying above defined thresholds.

The Toronto-Dominion Bank (TD) is offering $1,000,000 of Autocallable Contingent Interest Barrier Notes with Memory Interest linked to the Russell 2000庐 Index (RTY). Each note has a $1,000 principal and a term of approximately 54 weeks, maturing 24 Jul 2026, but may be automatically called on any of four quarterly Review Dates if RTY closes at or above the Initial Level (2,228.738).

• Contingent coupon: $21.70 per $1,000 (2.17% per quarter) paid only if RTY 鈮� 75% of the Initial Level (the 1,671.5535 Barrier). 鈥楳emory鈥� feature adds any missed coupons once the barrier is met on a later date.
• Downside: If not called and RTY < Barrier on the Final Review Date, repayment = $1,000 + ($1,000 脳 Percentage Change); investors lose 1% of principal for each 1% RTY falls below the Initial Level, to a potential 100% loss.
• Credit & market risk: Payments depend on TD鈥檚 ability to pay; the notes are unsecured, not FDIC/Canada-insured, unlisted and expected to trade at a discount. Estimated value on pricing date was $985.90, below the $1,000 offering price.
• Fees: Public price $1,000; underwriting discount $10 (1%); proceeds to TD $990. Placement agents (JPMS, JPM Chase Bank) receive $10 per note on non-fiduciary sales.

Investors seeking fixed income or equity participation should note the limited upside (coupons only), potential for total principal loss, liquidity constraints and complex tax treatment.

Pricing Overview: The Toronto-Dominion Bank (TD) is offering US$7.7 million of Senior Debt Securities, Series H, in the form of Autocallable Fixed Interest Barrier Notes due 14 July 2027. Each Note has a US$1,000 principal amount and is linked to the least-performing share of Broadcom (AVGO), Dell Technologies (DELL) and NVIDIA (NVDA).

Coupon & Call Mechanics: Investors receive a fixed monthly coupon of US$11.417 (鈮�13.70% p.a.) until the Notes are automatically called or mature. Automatic call is triggered on any of 18 monthly Call Observation Dates (first: 9 Jan 2026) if all three shares close at or above 100% of their initial prices. Called investors receive par plus the current coupon; no further payments accrue.

Maturity Payment: If not called, the redemption depends on the Final Value (9 Jul 2027):

• If each share 鈮� 50% of its Initial Value (Barrier), investors receive par plus final coupon.
• If any share < 50% of its Initial Value, holders receive a Physical Delivery Amount of the worst-performing stock (鈮�3.5984 AVGO, 7.8970 DELL or 6.1395 NVDA per Note) valued at maturity鈥攑otentially worth far less than par.

Pricing Details: Public offering price is 100% of par. Underwriting discount equals 2.9844% (US$29.844 per Note). Estimated value at pricing is US$940.50, reflecting TD鈥檚 internal funding rate and hedging costs鈥攂elow the offer price. Minimum investment is US$1,000, settlement T+3.

Key Risks:

• Principal at risk: up to 100% loss if any share breaches the 50% barrier.
• Concentration risk: all three issuers operate in the technology/semiconductor sector.
• Credit risk: payments depend on TD鈥檚 senior unsecured credit.
• Liquidity risk: Notes are unlisted; secondary market, if any, may be thin and priced below estimated value.
• Valuation gap: 5.95% difference between issue price and estimated value.

Tax Treatment: TD and holders will treat the instrument as (1) a non-contingent debt component and (2) a put option; alternative IRS views could alter income recognition. Non-U.S. investors should review possible Section 871(m) dividend-equivalent exposure (TD expects none).

Use of Proceeds & Conflicts: TD will receive net proceeds of 鈮圲S$7.47 million. TD Securities (USA) LLC, an affiliate, acts as agent and receives the full selling concession, creating FINRA Rule 5121 conflicts of interest.

Investor Profile: Suitable only for sophisticated investors seeking high coupon income, willing to assume single-stock downside risk and TD credit risk, and comfortable with limited liquidity and complex tax treatment.