Published on 3/28/2019 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.73 million contingent interest barrier autocalls on stocks
By Sarah Lizee
Olympia, Wash., March 28 – Toronto-Dominion Bank priced $1.73 million of autocallable contingent interest barrier notes due March 30, 2022 linked to the shares of Advance Auto Parts, Inc., salesforce.com, inc. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 12.36% per year if each stock closes at or above the barrier price, 60% of the initial share price, on the valuation date for that month.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above 95% of the initial share price on any quarterly call observation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the barrier price, in which case investors will be fully exposed to the laggard stock’s decline.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stocks: | Advance Auto Parts, Inc., salesforce.com, inc. and Goldman Sachs Group, Inc.
|
| Amount: | $1,734,000
|
| Maturity: | March 30, 2022
|
| Coupon: | Each month, notes pay contingent coupon at rate of 12.36% per year if all shares close at or above barrier price on valuation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline
|
| Call: | Automatically at par plus contingent coupon if shares of each stock close at or above 95% of initial share price on any quarterly call observation date
|
| Initial share prices: | $168.27 for Auto, $159.40 for salesforce, $190.69 for Goldman
|
| Barrier prices: | $100.9620 for Advance Auto, $95.6400 for salesforce, $114.4140 for Goldman, 60% of initial share prices
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 89114QH76
|
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