By Taylor Fox
New York, Nov. 5 – Toronto-Dominion Bank priced $1.27 million of autocallable contingent interest barrier notes due Oct. 17, 2023 linked to the common stocks of Facebook, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent interest payment at the rate of 14% per year if both stocks close at or above their coupon barrier prices, 55% of the initial share price, on the observation date for that period.
The notes will be called at par plus the contingent interest payment if both stocks close at or above their initial prices on any monthly observation date starting Jan. 12, 2021.
If the notes are not called, the payout at maturity will be par plus the contingent interest payment due unless either stock finishes below the barrier price, 55% of the initial share price, in which case investors will be fully exposed to the decline of the worst performer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying stocks: | Facebook, Inc. and Netflix, Inc.
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| Amount: | $1,268,000
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| Maturity: | Oct. 17, 2023
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| Coupon: | 14% annual rate, payable monthly if both stocks finish above 55% of initial level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus contingent interest payment unless either stock finishes below barrier price, in which case full exposure to the worst performing stock’s decline
|
| Call: | Automatically at par plus contingent interest payment if shares of worst performing stock close at or above initial price on any monthly observation date starting Jan. 12, 2021
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| Initial share price: | $264.45 for Facebook and $539.44 for Netflix
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| Coupon barrier price: | $145.4475 for Facebook and $296.692 for Netflix, 55% of initial levels
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| Pricing date: | Oct. 9
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| Settlement date: | Oct. 12
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.8%
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| Cusip: | 89114RUV6
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