By Wendy Van Sickle
Columbus, Ohio, May 7 – Toronto-Dominion Bank priced $1.19 million of callable contingent interest barrier notes due April 27, 2023 linked to the least performing of the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10.5% if each asset closes at or above the 70% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly call observation date.
The payout at maturity will be par unless any asset finishes below the 70% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing asset from its initial level.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Callable contingent interest barrier notes
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Underlying assets: | Energy Select Sector SPDR fund and Financial Select Sector SPDR fund
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Amount: | $1,187,000
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Maturity: | April 27, 2023
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Coupon: | 10.5% annual rate, payable quarterly if each asset closes at or above contingent interest barrier level on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless any asset finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing asset from initial level
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Call option: | At par on any quarterly call observation date
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Initial levels: | $47.11 for Energy, $34.73 for Financial
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Coupon barrier levels: | $32.977 for Energy, $24.311 for Financial; 70% of initial levels
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Barrier levels: | $32.977 for Energy, $24.311 for Financial; 70% of initial levels
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Pricing date: | April 22
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Settlement date: | April 27
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Agent: | TD Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 89117FE70
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