TD Bank plans contingent interest barrier autocalls on four stocks

By Sarah Lizee

Olympia, Wash., Aug. 18 – Toronto-Dominion Bank plans to price autocallable contingent interest barrier notes due Aug. 24, 2023 linked to the least performing of the common stocks of Amazon.com, Inc., Facebook, Inc., Netflix, Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each six months, the notes pay a contingent coupon at an annual rate of 14.5% if each stock closes at or above its interest barrier value, 55% of its initial share price, on the valuation date for that period.

The notes will be called at par if each stock closes at or above 90% of its initial share price on any semiannual call observation date.

The payout at maturity will be par unless any stock finishes below its barrier value, 50% of its initial value, in which case investors will be fully exposed to the decline of the least-performing stock.

TD Securities (USA) LLC is the underwriter.

The notes will price on Aug. 19.

The Cusip number is 89114RR57.

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