Toronto-Dominion Bank outlined preliminary $10.00 notes linked to Amazon, Honeywell and Target, with Maturity due on or about September 28, 2029. Investors face limited Liquidity because the notes will not be exchange-listed, while secondary-market prices may fall below the issue price and produce losses before maturity.

Key Highlights

  • The preliminary notes track the common stock of Amazon.com, Honeywell International and Target.
  • Each note carries a $0.20 Underwriting discount and $9.80 in proceeds to TD.
  • TD Securities and UBS are handling distribution, with UBS or an affiliate conducting hedging activities.

Toronto-Dominion Bank (NYSE: TD) is a Major Banks company. The bank outlined preliminary trigger autocallable contingent-yield notes tied to the common stocks of Amazon.com, Inc (NASDAQ: AMZN). Honeywell International Inc. (NASDAQ: HON) and Target Corporation (NYSE: TGT), with an issue price of $10.00 per note. The securities are due on or about September 28, 2029.

Note Terms and Distribution Arrangements

The notes form part of TD’s Senior Debt Securities, Series H, and the preliminary pricing supplement is dated September 23, 2026. Each stock-linked series carries a $0.20 underwriting discount per note, leaving $9.80 per note in proceeds to TD. TD Securities (USA) LLC will purchase the notes from TD and sell them to UBS Financial Services Inc. UBS or an affiliate is expected to carry out hedging tied to the notes. The notes will not be listed or displayed on a securities exchange or electronic communications network. TD Securities and UBS are named as agents for the distribution.

Liquidity and Conflict Disclosures

The terms warn that a Secondary Market may be limited or absent. TD Securities or another TD affiliate intends to make a market, but is not required to continue doing so, and any market could offer prices below the issue price because of underwriting discounts, expenses, hedging costs and other transaction costs. Selling before maturity may therefore result in substantial losses, regardless of the underlying asset’s value. The notes may also trade differently from the underlying stock. TD Securities is an affiliate of TD and has a conflict of interest under FINRA Rule 5121, while UBS or an affiliate may earn profits from hedging activities.