By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Toronto-Dominion Bank priced $1.05 million of autocallable contingent interest barrier notes due Jan. 24, 2022 linked to the least performing of the common stocks of lululemon athletica inc. and Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent interest payment at the rate of 19% per year if each stock closes at or above the coupon barrier price, 60% of the initial share price, on the observation date for that period, plus any previously unpaid coupon.
The notes will be called at par plus the contingent interest payment if the shares of each stock close at or above their initial prices on any observation date.
If the notes are not called, the payout at maturity will be par plus any contingent interest payment due unless the least performing stock finishes below the barrier price, 60% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable contingent interest barrier notes
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Underlying stocks: | lululemon athletica inc. and Peloton Interactive, Inc.
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Amount: | $1,045,000
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Maturity: | Jan. 24, 2022
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Coupon: | 19% annual rate, payable quarterly if all stocks close at or above their coupon barrier prices on the relevant observation date, plus any previously unpaid coupon
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Price: | Par
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Payout at maturity: | Par plus any contingent interest payment due unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline
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Call: | Automatically at par plus contingent interest payment if each stock closes at or above initial share price on any observation date
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Initial share prices: | $334.50 for lululemon and $157.81 for Peloton
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Coupon barrier levels: | $207.60 for lululemon and $94.686 for Peloton; 60% of initial levels
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Barrier levels: | $207.60 for lululemon and $94.686 for Peloton; 60% of initial levels
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Pricing date: | Jan. 19
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Settlement date: | Jan. 22
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Agent: | TD Securities (USA) LLC
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Fees: | 2%
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Cusip: | 89114T6Q0
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