diff --git a/packages/@lwc/integration-karma/test/events/memoization/index.spec.js b/packages/@lwc/integration-karma/test/events/memoization/index.spec.js
index 21e9ba2389..afa95d67a8 100644
--- a/packages/@lwc/integration-karma/test/events/memoization/index.spec.js
+++ b/packages/@lwc/integration-karma/test/events/memoization/index.spec.js
@@ -1,6 +1,7 @@
 import { createElement } from 'lwc';
 import Deep from 'x/deep';
 import List from 'x/list';
+import Mixed from 'x/mixed';
 
 describe('deep listener', () => {
     beforeEach(() => {
@@ -46,4 +47,28 @@ describe('deep listener', () => {
         elm.shadowRoot.querySelector('button').click();
         expect(window.clickBuffer).toEqual([1, 2]);
     });
+
+    // In this case, the click listener is re-bound on every render, because the referenced
+    // listener is scoped inside a <template for:each>. However, `mainLogger.onChange` is
+    // never re-bound because the `mainLogger` is scoped to the component.
+    it('does redefine onClick for a list of deep click listeners but not the onChange for a single deep listener', async () => {
+        const elm = createElement('x-mixed', { is: Mixed });
+        document.body.appendChild(elm);
+
+        elm.loggers = [{ id: 1, onClick: () => window.clickBuffer.push(1) }];
+        elm.mainLogger = {
+            onChange: () => window.clickBuffer.push('foo'),
+        };
+        await Promise.resolve();
+        elm.shadowRoot.querySelector('input').click();
+        expect(window.clickBuffer).toEqual([1, 'foo']);
+
+        elm.loggers = [{ id: 2, onClick: () => window.clickBuffer.push(2) }];
+        elm.mainLogger = {
+            onChange: () => window.clickBuffer.push('bar'),
+        };
+        await Promise.resolve();
+        elm.shadowRoot.querySelector('input').click();
+        expect(window.clickBuffer).toEqual([1, 'foo', 2, 'foo']);
+    });
 });
diff --git a/packages/@lwc/integration-karma/test/events/memoization/x/mixed/mixed.html b/packages/@lwc/integration-karma/test/events/memoization/x/mixed/mixed.html
new file mode 100644
index 0000000000..0f6208e6fb
--- /dev/null
+++ b/packages/@lwc/integration-karma/test/events/memoization/x/mixed/mixed.html
@@ -0,0 +1,10 @@
+<template>
+    <template for:each={loggers} for:item="logger">
+        <input
+            key={logger.id}
+            type="checkbox"
+            onclick={logger.onClick}
+            onchange={mainLogger.onChange}
+        ></input>
+    </template>
+</template>
diff --git a/packages/@lwc/integration-karma/test/events/memoization/x/mixed/mixed.js b/packages/@lwc/integration-karma/test/events/memoization/x/mixed/mixed.js
new file mode 100644
index 0000000000..e1e8d8213a
--- /dev/null
+++ b/packages/@lwc/integration-karma/test/events/memoization/x/mixed/mixed.js
@@ -0,0 +1,7 @@
+import { LightningElement, api } from 'lwc';
+
+export default class extends LightningElement {
+    @api loggers = [];
+
+    @api mainLogger;
+}
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/dynamic-components/valid/attributes/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/dynamic-components/valid/attributes/expected.js
index 69a2f5be7d..cda55a341a 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/dynamic-components/valid/attributes/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/dynamic-components/valid/attributes/expected.js
@@ -12,9 +12,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       classMap: stc0,
       slotAssignment: "slotName",
       key: 0,
-      on: {
-        click: _m0 || ($ctx._m0 = api_bind($cmp.handleClick)),
-      },
+      on:
+        _m0 ||
+        ($ctx._m0 = {
+          click: api_bind($cmp.handleClick),
+        }),
     }),
   ];
   /*LWC compiler vX.X.X*/
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/dynamic-components/valid/nested/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/dynamic-components/valid/nested/expected.js
index 273f30c773..4a7f53b5b7 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/dynamic-components/valid/nested/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/dynamic-components/valid/nested/expected.js
@@ -23,9 +23,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
         classMap: stc0,
         props: stc1,
         key: 0,
-        on: {
-          click: _m0 || ($ctx._m0 = api_bind($cmp.handleOuterClick)),
-        },
+        on:
+          _m0 ||
+          ($ctx._m0 = {
+            click: api_bind($cmp.handleOuterClick),
+          }),
       },
       [
         api_static_fragment($fragment1, 2),
@@ -35,9 +37,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
             classMap: stc0,
             props: stc1,
             key: 3,
-            on: {
-              click: _m1 || ($ctx._m1 = api_bind($cmp.handleOuterClick)),
-            },
+            on:
+              _m1 ||
+              ($ctx._m1 = {
+                click: api_bind($cmp.handleOuterClick),
+              }),
           },
           [api_static_fragment($fragment2, 5)]
         ),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/component/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/component/expected.js
index a04c34345c..366e637bc3 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/component/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/component/expected.js
@@ -12,9 +12,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
     api_element("section", stc0, [
       api_custom_element("ns-foo", _nsFoo, {
         key: 1,
-        on: {
-          foo: _m0 || ($ctx._m0 = api_bind($cmp.handleFoo)),
-        },
+        on:
+          _m0 ||
+          ($ctx._m0 = {
+            foo: api_bind($cmp.handleFoo),
+          }),
       }),
     ]),
   ];
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/actual.html b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/actual.html
new file mode 100644
index 0000000000..5a1ddded24
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/actual.html
@@ -0,0 +1,3 @@
+<template>
+    <button onclick={onClick} ontouchstart={onTouchStart} ontouchend={onTouchEnd}></button>
+</template>
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/ast.json b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/ast.json
new file mode 100644
index 0000000000..1cfdfcf764
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/ast.json
@@ -0,0 +1,145 @@
+{
+    "root": {
+        "type": "Root",
+        "location": {
+            "startLine": 1,
+            "startColumn": 1,
+            "endLine": 3,
+            "endColumn": 12,
+            "start": 0,
+            "end": 114,
+            "startTag": {
+                "startLine": 1,
+                "startColumn": 1,
+                "endLine": 1,
+                "endColumn": 11,
+                "start": 0,
+                "end": 10
+            },
+            "endTag": {
+                "startLine": 3,
+                "startColumn": 1,
+                "endLine": 3,
+                "endColumn": 12,
+                "start": 103,
+                "end": 114
+            }
+        },
+        "directives": [],
+        "children": [
+            {
+                "type": "Element",
+                "name": "button",
+                "namespace": "http://www.w3.org/1999/xhtml",
+                "location": {
+                    "startLine": 2,
+                    "startColumn": 5,
+                    "endLine": 2,
+                    "endColumn": 92,
+                    "start": 15,
+                    "end": 102,
+                    "startTag": {
+                        "startLine": 2,
+                        "startColumn": 5,
+                        "endLine": 2,
+                        "endColumn": 83,
+                        "start": 15,
+                        "end": 93
+                    },
+                    "endTag": {
+                        "startLine": 2,
+                        "startColumn": 83,
+                        "endLine": 2,
+                        "endColumn": 92,
+                        "start": 93,
+                        "end": 102
+                    }
+                },
+                "attributes": [],
+                "properties": [],
+                "directives": [],
+                "listeners": [
+                    {
+                        "type": "EventListener",
+                        "name": "click",
+                        "handler": {
+                            "type": "Identifier",
+                            "start": 1,
+                            "end": 8,
+                            "name": "onClick",
+                            "location": {
+                                "startLine": 2,
+                                "startColumn": 13,
+                                "endLine": 2,
+                                "endColumn": 30,
+                                "start": 23,
+                                "end": 40
+                            }
+                        },
+                        "location": {
+                            "startLine": 2,
+                            "startColumn": 13,
+                            "endLine": 2,
+                            "endColumn": 30,
+                            "start": 23,
+                            "end": 40
+                        }
+                    },
+                    {
+                        "type": "EventListener",
+                        "name": "touchstart",
+                        "handler": {
+                            "type": "Identifier",
+                            "start": 1,
+                            "end": 13,
+                            "name": "onTouchStart",
+                            "location": {
+                                "startLine": 2,
+                                "startColumn": 31,
+                                "endLine": 2,
+                                "endColumn": 58,
+                                "start": 41,
+                                "end": 68
+                            }
+                        },
+                        "location": {
+                            "startLine": 2,
+                            "startColumn": 31,
+                            "endLine": 2,
+                            "endColumn": 58,
+                            "start": 41,
+                            "end": 68
+                        }
+                    },
+                    {
+                        "type": "EventListener",
+                        "name": "touchend",
+                        "handler": {
+                            "type": "Identifier",
+                            "start": 1,
+                            "end": 11,
+                            "name": "onTouchEnd",
+                            "location": {
+                                "startLine": 2,
+                                "startColumn": 59,
+                                "endLine": 2,
+                                "endColumn": 82,
+                                "start": 69,
+                                "end": 92
+                            }
+                        },
+                        "location": {
+                            "startLine": 2,
+                            "startColumn": 59,
+                            "endLine": 2,
+                            "endColumn": 82,
+                            "start": 69,
+                            "end": 92
+                        }
+                    }
+                ],
+                "children": []
+            }
+        ]
+    }
+}
\ No newline at end of file
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/config.json b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/config.json
new file mode 100644
index 0000000000..b5d7f0cbd0
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/config.json
@@ -0,0 +1,3 @@
+{
+  "enableStaticContentOptimization": false
+}
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/expected.js
new file mode 100644
index 0000000000..099745d60c
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/expected.js
@@ -0,0 +1,31 @@
+import _implicitStylesheets from "./non-static-optimized.css";
+import _implicitScopedStylesheets from "./non-static-optimized.scoped.css?scoped=true";
+import { freezeTemplate, registerTemplate } from "lwc";
+function tmpl($api, $cmp, $slotset, $ctx) {
+  const { b: api_bind, h: api_element } = $api;
+  const { _m0 } = $ctx;
+  return [
+    api_element("button", {
+      key: 0,
+      on:
+        _m0 ||
+        ($ctx._m0 = {
+          click: api_bind($cmp.onClick),
+          touchstart: api_bind($cmp.onTouchStart),
+          touchend: api_bind($cmp.onTouchEnd),
+        }),
+    }),
+  ];
+  /*LWC compiler vX.X.X*/
+}
+export default registerTemplate(tmpl);
+tmpl.stylesheets = [];
+tmpl.stylesheetToken = "lwc-d9girnpd2k";
+tmpl.legacyStylesheetToken = "x-non-static-optimized_non-static-optimized";
+if (_implicitStylesheets) {
+  tmpl.stylesheets.push.apply(tmpl.stylesheets, _implicitStylesheets);
+}
+if (_implicitScopedStylesheets) {
+  tmpl.stylesheets.push.apply(tmpl.stylesheets, _implicitScopedStylesheets);
+}
+freezeTemplate(tmpl);
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/metadata.json b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/metadata.json
new file mode 100644
index 0000000000..51ec5f799c
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/non-static-optimized/metadata.json
@@ -0,0 +1,3 @@
+{
+    "warnings": []
+}
\ No newline at end of file
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/actual.html b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/actual.html
new file mode 100644
index 0000000000..5a1ddded24
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/actual.html
@@ -0,0 +1,3 @@
+<template>
+    <button onclick={onClick} ontouchstart={onTouchStart} ontouchend={onTouchEnd}></button>
+</template>
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/ast.json b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/ast.json
new file mode 100644
index 0000000000..1cfdfcf764
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/ast.json
@@ -0,0 +1,145 @@
+{
+    "root": {
+        "type": "Root",
+        "location": {
+            "startLine": 1,
+            "startColumn": 1,
+            "endLine": 3,
+            "endColumn": 12,
+            "start": 0,
+            "end": 114,
+            "startTag": {
+                "startLine": 1,
+                "startColumn": 1,
+                "endLine": 1,
+                "endColumn": 11,
+                "start": 0,
+                "end": 10
+            },
+            "endTag": {
+                "startLine": 3,
+                "startColumn": 1,
+                "endLine": 3,
+                "endColumn": 12,
+                "start": 103,
+                "end": 114
+            }
+        },
+        "directives": [],
+        "children": [
+            {
+                "type": "Element",
+                "name": "button",
+                "namespace": "http://www.w3.org/1999/xhtml",
+                "location": {
+                    "startLine": 2,
+                    "startColumn": 5,
+                    "endLine": 2,
+                    "endColumn": 92,
+                    "start": 15,
+                    "end": 102,
+                    "startTag": {
+                        "startLine": 2,
+                        "startColumn": 5,
+                        "endLine": 2,
+                        "endColumn": 83,
+                        "start": 15,
+                        "end": 93
+                    },
+                    "endTag": {
+                        "startLine": 2,
+                        "startColumn": 83,
+                        "endLine": 2,
+                        "endColumn": 92,
+                        "start": 93,
+                        "end": 102
+                    }
+                },
+                "attributes": [],
+                "properties": [],
+                "directives": [],
+                "listeners": [
+                    {
+                        "type": "EventListener",
+                        "name": "click",
+                        "handler": {
+                            "type": "Identifier",
+                            "start": 1,
+                            "end": 8,
+                            "name": "onClick",
+                            "location": {
+                                "startLine": 2,
+                                "startColumn": 13,
+                                "endLine": 2,
+                                "endColumn": 30,
+                                "start": 23,
+                                "end": 40
+                            }
+                        },
+                        "location": {
+                            "startLine": 2,
+                            "startColumn": 13,
+                            "endLine": 2,
+                            "endColumn": 30,
+                            "start": 23,
+                            "end": 40
+                        }
+                    },
+                    {
+                        "type": "EventListener",
+                        "name": "touchstart",
+                        "handler": {
+                            "type": "Identifier",
+                            "start": 1,
+                            "end": 13,
+                            "name": "onTouchStart",
+                            "location": {
+                                "startLine": 2,
+                                "startColumn": 31,
+                                "endLine": 2,
+                                "endColumn": 58,
+                                "start": 41,
+                                "end": 68
+                            }
+                        },
+                        "location": {
+                            "startLine": 2,
+                            "startColumn": 31,
+                            "endLine": 2,
+                            "endColumn": 58,
+                            "start": 41,
+                            "end": 68
+                        }
+                    },
+                    {
+                        "type": "EventListener",
+                        "name": "touchend",
+                        "handler": {
+                            "type": "Identifier",
+                            "start": 1,
+                            "end": 11,
+                            "name": "onTouchEnd",
+                            "location": {
+                                "startLine": 2,
+                                "startColumn": 59,
+                                "endLine": 2,
+                                "endColumn": 82,
+                                "start": 69,
+                                "end": 92
+                            }
+                        },
+                        "location": {
+                            "startLine": 2,
+                            "startColumn": 59,
+                            "endLine": 2,
+                            "endColumn": 82,
+                            "start": 69,
+                            "end": 92
+                        }
+                    }
+                ],
+                "children": []
+            }
+        ]
+    }
+}
\ No newline at end of file
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/config.json b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/config.json
new file mode 100644
index 0000000000..e6e73eecd0
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/config.json
@@ -0,0 +1,3 @@
+{
+  "enableStaticContentOptimization": true
+}
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/expected.js
new file mode 100644
index 0000000000..ba765a254e
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/expected.js
@@ -0,0 +1,37 @@
+import _implicitStylesheets from "./static-optimized.css";
+import _implicitScopedStylesheets from "./static-optimized.scoped.css?scoped=true";
+import { freezeTemplate, parseFragment, registerTemplate } from "lwc";
+const $fragment1 = parseFragment`<button${3}></button>`;
+function tmpl($api, $cmp, $slotset, $ctx) {
+  const { b: api_bind, sp: api_static_part, st: api_static_fragment } = $api;
+  const { _m0, _m1 } = $ctx;
+  return [
+    api_static_fragment($fragment1, 1, [
+      api_static_part(
+        0,
+        {
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              click: api_bind($cmp.onClick),
+              touchstart: api_bind($cmp.onTouchStart),
+              touchend: api_bind($cmp.onTouchEnd),
+            }),
+        },
+        null
+      ),
+    ]),
+  ];
+  /*LWC compiler vX.X.X*/
+}
+export default registerTemplate(tmpl);
+tmpl.stylesheets = [];
+tmpl.stylesheetToken = "lwc-7n28hdp1g54";
+tmpl.legacyStylesheetToken = "x-static-optimized_static-optimized";
+if (_implicitStylesheets) {
+  tmpl.stylesheets.push.apply(tmpl.stylesheets, _implicitStylesheets);
+}
+if (_implicitScopedStylesheets) {
+  tmpl.stylesheets.push.apply(tmpl.stylesheets, _implicitScopedStylesheets);
+}
+freezeTemplate(tmpl);
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/metadata.json b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/metadata.json
new file mode 100644
index 0000000000..51ec5f799c
--- /dev/null
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/multiple/static-optimized/metadata.json
@@ -0,0 +1,3 @@
+{
+    "warnings": []
+}
\ No newline at end of file
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/non-static/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/non-static/expected.js
index 3452313847..8464352934 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/non-static/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/non-static/expected.js
@@ -11,9 +11,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
     api_element("div", stc0, [
       api_element("button", {
         key: 1,
-        on: {
-          click: _m0 || ($ctx._m0 = api_bind($cmp.handleClick)),
-        },
+        on:
+          _m0 ||
+          ($ctx._m0 = {
+            click: api_bind($cmp.handleClick),
+          }),
       }),
     ]),
   ];
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/static/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/static/expected.js
index ed894a2292..76abb039ab 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/static/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/static/expected.js
@@ -10,9 +10,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         1,
         {
-          on: {
-            click: _m0 || ($ctx._m0 = api_bind($cmp.handleClick)),
-          },
+          on:
+            _m0 ||
+            ($ctx._m0 = {
+              click: api_bind($cmp.handleClick),
+            }),
         },
         null
       ),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/tag/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/tag/expected.js
index 4039bb3116..53007821fe 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/tag/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/tag/expected.js
@@ -10,18 +10,22 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         1,
         {
-          on: {
-            click: _m0 || ($ctx._m0 = api_bind($cmp.handleClick)),
-          },
+          on:
+            _m0 ||
+            ($ctx._m0 = {
+              click: api_bind($cmp.handleClick),
+            }),
         },
         null
       ),
       api_static_part(
         3,
         {
-          on: {
-            press: _m1 || ($ctx._m1 = api_bind($cmp.handlePress)),
-          },
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              press: api_bind($cmp.handlePress),
+            }),
         },
         null
       ),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/type-valid/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/type-valid/expected.js
index a40747e542..e7af7045f4 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/events/type-valid/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/events/type-valid/expected.js
@@ -13,9 +13,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         0,
         {
-          on: {
-            a123: _m1 || ($ctx._m1 = api_bind($cmp.handleClick)),
-          },
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              a123: api_bind($cmp.handleClick),
+            }),
         },
         null
       ),
@@ -24,9 +26,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         0,
         {
-          on: {
-            foo_bar: _m3 || ($ctx._m3 = api_bind($cmp.handleClick)),
-          },
+          on:
+            _m3 ||
+            ($ctx._m3 = {
+              foo_bar: api_bind($cmp.handleClick),
+            }),
         },
         null
       ),
@@ -35,9 +39,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         0,
         {
-          on: {
-            foo_: _m5 || ($ctx._m5 = api_bind($cmp.handleClick)),
-          },
+          on:
+            _m5 ||
+            ($ctx._m5 = {
+              foo_: api_bind($cmp.handleClick),
+            }),
         },
         null
       ),
@@ -46,9 +52,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         0,
         {
-          on: {
-            a123: _m7 || ($ctx._m7 = api_bind($cmp.handleClick)),
-          },
+          on:
+            _m7 ||
+            ($ctx._m7 = {
+              a123: api_bind($cmp.handleClick),
+            }),
         },
         null
       ),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/assignment-inside-arrow/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/assignment-inside-arrow/expected.js
index 8f10381606..feccb20609 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/assignment-inside-arrow/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/assignment-inside-arrow/expected.js
@@ -10,9 +10,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         1,
         {
-          on: {
-            click: _m0 || ($ctx._m0 = api_bind(() => ($cmp.myField = "foo"))),
-          },
+          on:
+            _m0 ||
+            ($ctx._m0 = {
+              click: api_bind(() => ($cmp.myField = "foo")),
+            }),
         },
         null
       ),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/computed-property/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/computed-property/expected.js
index bebecede87..eb2062736d 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/computed-property/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/computed-property/expected.js
@@ -15,9 +15,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         0,
         {
-          on: {
-            click: _m1 || ($ctx._m1 = api_bind($cmp.bar.arr[$cmp.baz])),
-          },
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              click: api_bind($cmp.bar.arr[$cmp.baz]),
+            }),
         },
         null
       ),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/iterator/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/iterator/expected.js
index 99c48f10ce..c21207bd07 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/iterator/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/iterator/expected.js
@@ -16,9 +16,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         1,
         {
-          on: {
-            click: _m0 || ($ctx._m0 = api_bind(() => $cmp.taberu(okazu))),
-          },
+          on:
+            _m0 ||
+            ($ctx._m0 = {
+              click: api_bind(() => $cmp.taberu(okazu)),
+            }),
         },
         null
       ),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/update-inside-arrow/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/update-inside-arrow/expected.js
index a3aa82602f..6224bb810e 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/update-inside-arrow/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/expression-complex/valid/update-inside-arrow/expected.js
@@ -10,9 +10,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         1,
         {
-          on: {
-            click: _m0 || ($ctx._m0 = api_bind(() => $cmp.foo++)),
-          },
+          on:
+            _m0 ||
+            ($ctx._m0 = {
+              click: api_bind(() => $cmp.foo++),
+            }),
         },
         null
       ),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/actual.html b/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/actual.html
index 9cefc987ec..45f4ee3194 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/actual.html
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/actual.html
@@ -4,7 +4,7 @@
         <template for:each={list} for:item="task">
             <li key={task.id}>
                 {task.title}
-                <button onclick={task.delete}>[X]</button>
+                <button onclick={task.delete} ontouchstart={foo}>[X]</button>
             </li>
         </template>
     </ul>
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/ast.json b/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/ast.json
index c9977650af..04135588bd 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/ast.json
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/ast.json
@@ -7,7 +7,7 @@
             "endLine": 11,
             "endColumn": 12,
             "start": 0,
-            "end": 291,
+            "end": 310,
             "startTag": {
                 "startLine": 1,
                 "startColumn": 1,
@@ -21,8 +21,8 @@
                 "startColumn": 1,
                 "endLine": 11,
                 "endColumn": 12,
-                "start": 280,
-                "end": 291
+                "start": 299,
+                "end": 310
             }
         },
         "directives": [],
@@ -115,7 +115,7 @@
                     "endLine": 10,
                     "endColumn": 10,
                     "start": 57,
-                    "end": 279,
+                    "end": 298,
                     "startTag": {
                         "startLine": 3,
                         "startColumn": 5,
@@ -129,8 +129,8 @@
                         "startColumn": 5,
                         "endLine": 10,
                         "endColumn": 10,
-                        "start": 274,
-                        "end": 279
+                        "start": 293,
+                        "end": 298
                     }
                 },
                 "attributes": [],
@@ -172,7 +172,7 @@
                             "endLine": 9,
                             "endColumn": 20,
                             "start": 70,
-                            "end": 269
+                            "end": 288
                         },
                         "directiveLocation": {
                             "startLine": 4,
@@ -193,7 +193,7 @@
                                     "endLine": 8,
                                     "endColumn": 18,
                                     "start": 125,
-                                    "end": 249,
+                                    "end": 268,
                                     "startTag": {
                                         "startLine": 5,
                                         "startColumn": 13,
@@ -207,8 +207,8 @@
                                         "startColumn": 13,
                                         "endLine": 8,
                                         "endColumn": 18,
-                                        "start": 244,
-                                        "end": 249
+                                        "start": 263,
+                                        "end": 268
                                     }
                                 },
                                 "attributes": [],
@@ -303,24 +303,24 @@
                                             "startLine": 7,
                                             "startColumn": 17,
                                             "endLine": 7,
-                                            "endColumn": 59,
+                                            "endColumn": 78,
                                             "start": 189,
-                                            "end": 231,
+                                            "end": 250,
                                             "startTag": {
                                                 "startLine": 7,
                                                 "startColumn": 17,
                                                 "endLine": 7,
-                                                "endColumn": 47,
+                                                "endColumn": 66,
                                                 "start": 189,
-                                                "end": 219
+                                                "end": 238
                                             },
                                             "endTag": {
                                                 "startLine": 7,
-                                                "startColumn": 50,
+                                                "startColumn": 69,
                                                 "endLine": 7,
-                                                "endColumn": 59,
-                                                "start": 222,
-                                                "end": 231
+                                                "endColumn": 78,
+                                                "start": 241,
+                                                "end": 250
                                             }
                                         },
                                         "attributes": [],
@@ -365,6 +365,32 @@
                                                     "start": 197,
                                                     "end": 218
                                                 }
+                                            },
+                                            {
+                                                "type": "EventListener",
+                                                "name": "touchstart",
+                                                "handler": {
+                                                    "type": "Identifier",
+                                                    "start": 1,
+                                                    "end": 4,
+                                                    "name": "foo",
+                                                    "location": {
+                                                        "startLine": 7,
+                                                        "startColumn": 47,
+                                                        "endLine": 7,
+                                                        "endColumn": 65,
+                                                        "start": 219,
+                                                        "end": 237
+                                                    }
+                                                },
+                                                "location": {
+                                                    "startLine": 7,
+                                                    "startColumn": 47,
+                                                    "endLine": 7,
+                                                    "endColumn": 65,
+                                                    "start": 219,
+                                                    "end": 237
+                                                }
                                             }
                                         ],
                                         "children": [
@@ -377,11 +403,11 @@
                                                 },
                                                 "location": {
                                                     "startLine": 7,
-                                                    "startColumn": 47,
+                                                    "startColumn": 66,
                                                     "endLine": 7,
-                                                    "endColumn": 50,
-                                                    "start": 219,
-                                                    "end": 222
+                                                    "endColumn": 69,
+                                                    "start": 238,
+                                                    "end": 241
                                                 }
                                             }
                                         ]
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/expected.js
index 6896be738c..8dd52d3cfc 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/regression/handler-memoization/expected.js
@@ -16,15 +16,17 @@ function tmpl($api, $cmp, $slotset, $ctx) {
     i: api_iterator,
     h: api_element,
   } = $api;
-  const { _m0, _m1 } = $ctx;
+  const { _m0, _m1, _m2 } = $ctx;
   return [
     api_static_fragment($fragment1, 1, [
       api_static_part(
         0,
         {
-          on: {
-            click: _m1 || ($ctx._m1 = api_bind($cmp.create)),
-          },
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              click: api_bind($cmp.create),
+            }),
         },
         null
       ),
@@ -40,6 +42,7 @@ function tmpl($api, $cmp, $slotset, $ctx) {
             {
               on: {
                 click: api_bind(task.delete),
+                touchstart: _m2 || ($ctx._m2 = api_bind($cmp.foo)),
               },
             },
             null
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/deep-data-combined/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/deep-data-combined/expected.js
index 6ca63eedd7..e2133747db 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/deep-data-combined/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/deep-data-combined/expected.js
@@ -15,9 +15,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         4,
         {
-          on: {
-            click: _m0 || ($ctx._m0 = api_bind($cmp.onClickBaz)),
-          },
+          on:
+            _m0 ||
+            ($ctx._m0 = {
+              click: api_bind($cmp.onClickBaz),
+            }),
           ref: "foo",
           style: $cmp.fooStyle,
           attrs: {
@@ -30,9 +32,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         6,
         {
-          on: {
-            click: _m1 || ($ctx._m1 = api_bind($cmp.onClickQuux)),
-          },
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              click: api_bind($cmp.onClickQuux),
+            }),
           ref: "bar",
           style: $cmp.barStyle,
           attrs: {
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/deep-data/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/deep-data/expected.js
index df8c1d23f1..050e4354a7 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/deep-data/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/deep-data/expected.js
@@ -22,9 +22,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         5,
         {
-          on: {
-            click: _m0 || ($ctx._m0 = api_bind($cmp.onClickBaz)),
-          },
+          on:
+            _m0 ||
+            ($ctx._m0 = {
+              click: api_bind($cmp.onClickBaz),
+            }),
         },
         null
       ),
@@ -55,9 +57,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         10,
         {
-          on: {
-            click: _m1 || ($ctx._m1 = api_bind($cmp.onClickQuux)),
-          },
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              click: api_bind($cmp.onClickQuux),
+            }),
         },
         null
       ),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/preserve-comments-off-with-parts/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/preserve-comments-off-with-parts/expected.js
index a78e6bac4a..1cb4e14b44 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/preserve-comments-off-with-parts/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/preserve-comments-off-with-parts/expected.js
@@ -15,9 +15,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         1,
         {
-          on: {
-            click: _m0 || ($ctx._m0 = api_bind($cmp.onClickFoo)),
-          },
+          on:
+            _m0 ||
+            ($ctx._m0 = {
+              click: api_bind($cmp.onClickFoo),
+            }),
           ref: "foo",
           style: $cmp.fooStyle,
           className: api_normalize_class_name($cmp.fooClass),
@@ -30,9 +32,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         3,
         {
-          on: {
-            click: _m1 || ($ctx._m1 = api_bind($cmp.onClickBar)),
-          },
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              click: api_bind($cmp.onClickBar),
+            }),
           ref: "bar",
           style: $cmp.barStyle,
           className: api_normalize_class_name($cmp.barClass),
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/preserve-comments-on-with-parts/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/preserve-comments-on-with-parts/expected.js
index c3e7c6782f..087d04f925 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/preserve-comments-on-with-parts/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/preserve-comments-on-with-parts/expected.js
@@ -10,9 +10,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         2,
         {
-          on: {
-            click: _m0 || ($ctx._m0 = api_bind($cmp.onClickFoo)),
-          },
+          on:
+            _m0 ||
+            ($ctx._m0 = {
+              click: api_bind($cmp.onClickFoo),
+            }),
           ref: "foo",
           style: $cmp.fooStyle,
           attrs: {
@@ -24,9 +26,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         5,
         {
-          on: {
-            click: _m1 || ($ctx._m1 = api_bind($cmp.onClickBar)),
-          },
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              click: api_bind($cmp.onClickBar),
+            }),
           ref: "bar",
           style: $cmp.barStyle,
           attrs: {
diff --git a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/shallow-data/expected.js b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/shallow-data/expected.js
index ffab8282c9..330920daa0 100644
--- a/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/shallow-data/expected.js
+++ b/packages/@lwc/template-compiler/src/__tests__/fixtures/static-content/shallow-data/expected.js
@@ -10,9 +10,11 @@ function tmpl($api, $cmp, $slotset, $ctx) {
       api_static_part(
         0,
         {
-          on: {
-            click: _m1 || ($ctx._m1 = api_bind($cmp.onClick)),
-          },
+          on:
+            _m1 ||
+            ($ctx._m1 = {
+              click: api_bind($cmp.onClick),
+            }),
           ref: "foo",
           style: $cmp.fooStyle,
           attrs: {
diff --git a/packages/@lwc/template-compiler/src/codegen/codegen.ts b/packages/@lwc/template-compiler/src/codegen/codegen.ts
index 4288789eb0..42859cb0da 100644
--- a/packages/@lwc/template-compiler/src/codegen/codegen.ts
+++ b/packages/@lwc/template-compiler/src/codegen/codegen.ts
@@ -55,7 +55,7 @@ import {
     isIdReferencingAttribute,
     isSvgUseHref,
 } from '../parser/attribute';
-import { memorizeHandler, objectToAST } from './helpers';
+import { getMemberExpressionRoot, objectToAST } from './helpers';
 import {
     transformStaticChildren,
     getStaticNodes,
@@ -184,7 +184,7 @@ export default class CodeGen {
     usedLwcApis: Set<string> = new Set();
 
     slotNames: Set<string> = new Set();
-    memorizedIds: t.Identifier[] = [];
+    memoizedIds: t.Identifier[] = [];
     referencedComponents: Set<string> = new Set();
     apiVersion: APIVersion;
 
@@ -378,13 +378,13 @@ export default class CodeGen {
         return this._renderApiCall(RENDER_APIS.tabindex, children);
     }
 
-    getMemorizationId() {
+    getMemoizationId() {
         const currentId = this.currentId++;
-        const memorizationId = t.identifier(`_m${currentId}`);
+        const memoizationId = t.identifier(`_m${currentId}`);
 
-        this.memorizedIds.push(memorizationId);
+        this.memoizedIds.push(memoizationId);
 
-        return memorizationId;
+        return memoizationId;
     }
 
     genBooleanAttributeExpr(bindExpr: t.Expression) {
@@ -392,17 +392,68 @@ export default class CodeGen {
     }
 
     genEventListeners(listeners: EventListener[]) {
-        const listenerObj = Object.fromEntries(
-            listeners.map((listener) => [listener.name, listener])
-        );
-        const listenerObjectAST = objectToAST(listenerObj, (key) => {
-            const componentHandler = this.bindExpression(listenerObj[key].handler);
-            const handler = this.genBind(componentHandler);
+        let hasLocalListeners = false;
 
-            return memorizeHandler(this, componentHandler, handler);
-        });
+        const listenerObj: Record<string, { handler: t.Expression; isLocal: boolean }> = {};
+
+        for (const { name, handler } of listeners) {
+            const componentHandler = this.bindExpression(handler) as t.MemberExpression;
+            const id = getMemberExpressionRoot(componentHandler);
+            const isLocal = this.isLocalIdentifier(id);
+
+            if (isLocal) {
+                hasLocalListeners = true;
+            }
+
+            listenerObj[name] = { handler: this.genBind(componentHandler), isLocal };
+        }
+
+        // Individually memoize a non-local event handler
+        // Example input: <template for:each={list} for:item="task">
+        //                  <button [...] ontouchstart={foo}>[X]</button>
+        //                </template>
+        // Output: [...] touchstart: _m2 || ($ctx._m2 = api_bind($cmp.foo))
+        const memoize = (expr: t.Expression) => {
+            const memoizedId = this.getMemoizationId();
+            return t.logicalExpression(
+                '||',
+                memoizedId,
+                t.assignmentExpression(
+                    '=',
+                    t.memberExpression(t.identifier(TEMPLATE_PARAMS.CONTEXT), memoizedId),
+                    expr
+                )
+            );
+        };
 
-        return t.property(t.identifier('on'), listenerObjectAST);
+        if (hasLocalListeners) {
+            // If there are local listeners, we need to memoize individual handlers
+            // Input: <template for:each={list} for:item="task">
+            //          <button onclick={task.delete} ontouchstart={foo}>[X]</button>
+            //        </template>
+            // Output:
+            //   on: {
+            //     click: api_bind(task.delete),
+            //     touchstart: _m2 || ($ctx._m2 = api_bind($cmp.foo))
+            //   }
+            return t.property(
+                t.identifier('on'),
+                objectToAST(listenerObj, (k) => {
+                    const { isLocal, handler } = listenerObj[k];
+                    return isLocal ? handler : memoize(handler);
+                })
+            );
+        } else {
+            // If there are no local listeners, we can memoize the entire `on` object
+            // Input: <template>
+            //          <button onclick={create}>New</button>
+            //        </template>
+            // Output: on: _m1 || ($ctx._m1 = { click: api_bind($cmp.create) })
+            return t.property(
+                t.identifier('on'),
+                memoize(objectToAST(listenerObj, (k) => listenerObj[k].handler))
+            );
+        }
     }
 
     genRef(ref: RefDirective) {
diff --git a/packages/@lwc/template-compiler/src/codegen/helpers.ts b/packages/@lwc/template-compiler/src/codegen/helpers.ts
index 27d98b946f..2badd1b939 100644
--- a/packages/@lwc/template-compiler/src/codegen/helpers.ts
+++ b/packages/@lwc/template-compiler/src/codegen/helpers.ts
@@ -9,11 +9,7 @@ import * as t from '../shared/estree';
 import { toPropertyName } from '../shared/utils';
 import { ChildNode, LWCDirectiveRenderMode, Node } from '../shared/types';
 import { isBaseElement, isForBlock, isIf, isParentNode, isSlot } from '../shared/ast';
-import {
-    IMPLICIT_STYLESHEET_IMPORTS,
-    TEMPLATE_FUNCTION_NAME,
-    TEMPLATE_PARAMS,
-} from '../shared/constants';
+import { IMPLICIT_STYLESHEET_IMPORTS, TEMPLATE_FUNCTION_NAME } from '../shared/constants';
 import CodeGen from './codegen';
 
 export function identifierFromComponentName(name: string): t.Identifier {
@@ -88,30 +84,6 @@ export function hasIdAttribute(node: Node): boolean {
     return false;
 }
 
-export function memorizeHandler(
-    codeGen: CodeGen,
-    componentHandler: t.Expression,
-    handler: t.Expression
-): t.Expression {
-    // #439 - The handler can only be memorized if it is bound to component instance
-    const id = getMemberExpressionRoot(componentHandler as t.MemberExpression);
-    const shouldMemorizeHandler = !codeGen.isLocalIdentifier(id);
-
-    // Apply memorization if the handler is memorizable.
-    //   $cmp.handlePress -> _m1 || ($ctx._m1 = b($cmp.handlePress))
-    if (shouldMemorizeHandler) {
-        const memorizedId = codeGen.getMemorizationId();
-        const memorization = t.assignmentExpression(
-            '=',
-            t.memberExpression(t.identifier(TEMPLATE_PARAMS.CONTEXT), memorizedId),
-            handler
-        );
-
-        handler = t.logicalExpression('||', memorizedId, memorization);
-    }
-    return handler;
-}
-
 export function generateTemplateMetadata(codeGen: CodeGen): t.Statement[] {
     const metadataExpressions: t.Statement[] = [];
 
diff --git a/packages/@lwc/template-compiler/src/codegen/index.ts b/packages/@lwc/template-compiler/src/codegen/index.ts
index f756dc8756..813049e354 100644
--- a/packages/@lwc/template-compiler/src/codegen/index.ts
+++ b/packages/@lwc/template-compiler/src/codegen/index.ts
@@ -665,12 +665,12 @@ function generateTemplateFunction(codeGen: CodeGen): t.FunctionDeclaration {
                   ]),
               ];
 
-    if (codeGen.memorizedIds.length) {
+    if (codeGen.memoizedIds.length) {
         body.push(
             t.variableDeclaration('const', [
                 t.variableDeclarator(
                     t.objectPattern(
-                        codeGen.memorizedIds.map((id) =>
+                        codeGen.memoizedIds.map((id) =>
                             t.assignmentProperty(id, id, { shorthand: true })
                         )
                     ),