By Wendy Van Sickle
Columbus, Ohio, June 22 – Toronto-Dominion Bank priced $846,000 of callable contingent interest barrier notes due June 19, 2023 linked to the common stock of Western Digital Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent interest payment at the rate of 12.65% per year if the stock closes at or above the coupon barrier price, 70% of the initial share price, on the observation date for that period.
The notes may be called at par plus any coupon on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the barrier price, 70% of the initial share price, in which case investors will receive 13.3851 shares of the stock.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying stock: | Western Digital Corp.
|
| Amount: | $846,000
|
| Maturity: | June 19, 2023
|
| Coupon: | 12.65% annual rate, payable each quarter that the stock closes at or above barrier price on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless underlying stock finishes below barrier price, in which case investors will receive 13.3851 shares of the stock
|
| Call option: | At par plus any coupon on any quarterly observation date
|
| Initial share price: | $74.71
|
| Coupon barrier level: | $52.297; 70% of initial levels
|
| Barrier levels: | $52.297; 70% of initial levels
|
| Pricing date: | June 14
|
| Settlement date: | June 18
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 89117GAP2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
