By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Toronto-Dominion Bank priced $1 million of callable contingent interest buffered notes with downside leverage due Aug. 13, 2023 linked to the shares of Norwegian Cruise Line Holdings Ltd., 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 13.7% if the stock 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 interest payment date after six months.
The payout at maturity will be par unless the stock finishes below the 70% buffer level, in which case investors will lose 1% for each 1% decline of the the stock beyond its 30% buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest buffered notes with downside leverage
|
| Underlying stock: | Norwegian Cruise Line Holdings Ltd.
|
| Amount: | $1,002,000
|
| Maturity: | Aug. 31, 2023
|
| Coupon: | 13.7% annualized, payable quarterly if the stock closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below buffer level, in which case 1% loss for each 1% decline of the stock beyond 30% buffer
|
| Call option: | At par on any quarterly observation date after six months
|
| Initial price: | $26.16
|
| Coupon barrier level: | $18.312; 70% of initial level
|
| Buffer level: | $18.312; 70% of initial level
|
| Pricing date: | Aug. 27
|
| Settlement date: | Sept. 1
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.4997%
|
| Cusip: | 89114TPZ9
|
|
|
|
|
© 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.
