By Kiku Steinfeld
Chicago, Sept. 13 – Toronto-Dominion Bank priced $3.26 million of autocallable contingent interest barrier notes due July 6, 2023 linked to the common stock of Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.6% per year if Marathon Oil shares close at or above the barrier price, 75% of the initial share price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any valuation date other than the final valuation date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the barrier price, 75% of the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or, at the issuer’s option, cash.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stock: | Caterpillar Inc.
|
| Amount: | $3.26 million
|
| Maturity: | July 6, 2023
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 8.6% per year if shares close at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below barrier price, in which case 4.5950 shares per note or cash equivalent
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial share price on any valuation date other than final valuation date
|
| Initial share price: | $217.63
|
| Barrier price: | $163.2225, 75% of initial share price
|
| Pricing date: | June 30
|
| Settlement date: | July 7
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 89117GAR8
|
|
|
© 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.
