Published on 9/19/2018 in the Prospect News Structured Products Daily.
New Issue: TD prices $495,000 4.2% fixed interest autocalls on Stoxx 50, EAFE fund
By Susanna Moon
Chicago, Sept. 19 – Toronto-Dominion Bank priced $495,000 of 4.2% autocallable fixed interest barrier notes due Sept. 3, 2020 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly valuation date.
The payout at maturity will be par unless either underlying asset finishes below 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing index or fund.
TD Securities (USA) LLC is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable fixed interest barrier notes
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Underlying assets: | Euro Stoxx 50 index, iShares MSCI EAFE ETF
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Amount: | $495,000
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Maturity: | Sept. 3, 2020
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Coupon: | 4.2% annualized, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless either asset falls by more than 40%, in which case 1% loss for each 1% decline of worse performing index or fund
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Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly valuation date
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Initial levels: | 3,392.90 for Stoxx, $67.34 for fund
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Trigger levels: | 2,035.74 for Stoxx, $40.40 for fund, 60% of initial levels
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Pricing date: | Aug. 31
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Settlement date: | Sept. 6
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Agent: | TD Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 89114QQP6
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