TD Bank plans 8.1% autocallable fixed interest barrier notes on stocks

By Sarah Lizee

Olympia, Wash., Sept. 10 – Toronto-Dominion Bank plans to price 8.1% autocallable fixed interest barrier notes due Sept. 16, 2021 linked to the shares of salesforce.com, inc., Alphabet Inc. and PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par plus the contingent coupon if the shares of each stock close at or above the initial share price on any monthly call observation date after six months.

The payout at maturity will be par plus the contingent coupon unless the stock finishes below the barrier price, 55% 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 underwriter.

The notes will price on Sept. 11.

The Cusip number is 891160SA2.

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