By Angela McDaniels
Tacoma, Wash., Aug. 15 – Toronto-Dominion Bank priced $4.4 million of 6.4% autocallable fixed interest barrier notes due Aug. 16, 2018 linked to the common stock of Gilead Sciences Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if Gilead Sciences shares close at or above the initial share price on any quarterly valuation date other than the final valuation date.
If the notes are not called and the final share price is greater than or equal to the 70% barrier price, the payout at maturity will be par. Otherwise, investors will have one-to-one exposure to the stock’s decline.
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 stock: | Gilead Sciences Inc. (Symbol: GILD)
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| Amount: | $4.4 million
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| Maturity: | Aug. 16, 2018
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| Coupon: | 6.4%, payable quarterly
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to barrier price, par; otherwise, one-to-one exposure to stock’s decline
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| Call: | Automatically at par if Gilead Sciences shares close at or above initial share price on any quarterly valuation date other than final valuation date
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| Initial share price: | $79.57
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| Barrier price: | $55.699, 70% of initial share price
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 18
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.25%
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| Cusip: | 89114QXG8
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