Published on 4/3/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $5.32 million of 12.6% autocallable fixed-interest barrier notes on stocks
By Sarah Lizee
Olympia, Wash., April 3 – Toronto-Dominion Bank priced $5.32 million of 12.6% autocallable fixed interest barrier notes due March 29, 2023 linked to common stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any monthly call observation date, starting Sept. 26.
The payout at maturity will be par unless any stock finishes below its barrier level, 60% of its initial level, 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
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| Issue: | Autocallable fixed interest barrier notes
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc.
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| Amount: | $5,318,000
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| Maturity: | March 29, 2023
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| Coupon: | 12.6%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its barrier level, in which case investors will be fully exposed to the laggard stock’s decline
|
| Call: | Automatically at par if each stock closes at or above its initial level on any monthly call observation date, starting Sept. 26
|
| Initial levels: | $258.44 for Apple, $1,955.49 for Amazon, $1,161.75 for Alphabet and $ $362.99 for Netflix
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| Barrier levels: | $258.44 for Apple, $1,955.49 for Amazon, $1,161.75 for Alphabet and $362.99 for Netflix, 60% of initial levels
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| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | TD Securities (USA) LLC
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| Fees: | 3.25%
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| Cusip: | 89114RF43
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