By William Gullotti
Buffalo, N.Y., Oct. 5 – Toronto-Dominion Bank priced $1.39 million of autocallable contingent interest barrier notes due Oct. 2, 2025 linked to the common stock of Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent interest payment at the annual rate of 10.8% if the stock closes at or above the coupon barrier price, 65% 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 the shares close at or above the initial price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final contingent interest payment unless the stock finishes below the barrier price, 65% of the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stock: | Occidental Petroleum Corp.
|
| Amount: | $1,387,000
|
| Maturity: | Oct. 2, 2025
|
| Coupon: | 10.8% annual rate, payable quarterly if underlier finishes above 65% of initial level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final contingent interest payment unless the stock finishes below barrier price, in which case the physical delivery amount of 15.4131 shares per note
|
| Call: | Automatically at par plus contingent interest payment if shares of the stock close at or above initial price on any quarterly observation date after six months
|
| Initial share price: | $64.88
|
| Coupon barrier/barrier level: | $42.172; 65% of initial level
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 4
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 89115FDC2
|
|
|
© 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.
