By Sarah Lizee
Olympia, Wash., Feb. 21 – Toronto-Dominion Bank priced $3.12 million of 0% capped barrier return enhanced notes due March 3, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the final ETF level is greater than the initial ETF level, the payout at maturity will be par plus 150% of the ETF return, capped at par plus 20.97%.
If the final ETF level is less than or equal to the initial ETF level but greater than or equal to the barrier value, 70% of the initial ETF level, the payout will be par.
If the final ETF level is less than the barrier value, investors will lose 1% for every 1% that the ETF declines from its initial level.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Capped barrier return enhanced notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $3,115,000
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| Maturity: | March 3, 2021
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final ETF level is greater than initial ETF level, par plus 150% of the ETF return, capped at par plus 20.97%; if final ETF level is less than or equal to initial ETF level but greater than or equal to barrier value, par; if final ETF level is less than barrier value, 1% loss for every 1% that ETF declines from initial level
|
| Initial level: | $18.78
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| Barrier value: | $13.146, 70% of initial ETF level
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 20
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| Agents: | TD Securities (USA) LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 89114RDP8
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