TD Bank plans callable contingent interest barrier notes on Nasdaq, S&P

By Sarah Lizee

Olympia, Wash., Aug. 7 – Toronto-Dominion Bank plans to price callable contingent interest barrier notes due Aug. 14, 2024 linked to the least performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 5.36% if each index closes at or above the 60% contingent interest barrier level on the observation date for that quarter.

The notes will be callable at par on any quarterly observation date after one year.

The payout at maturity will be par plus any coupon unless any index finishes below the 50% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.

TD Securities (USA) LLC is the agent.

The notes will price on Aug. 11.

The Cusip number is 89114RQ90.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.