By Angela McDaniels
Tacoma, Wash., Oct. 21 – Toronto-Dominion Bank priced an additional $550,000 principal amount of autocallable contingent interest barrier notes due April 20, 2017 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The initial $510,000 principal amount of notes priced Oct. 16. The total issue size is now $1.06 million.
Each quarter, the notes will pay a contingent coupon at the rate of 8.8% per year if Apple shares close at or above the barrier price, 70% of the initial share price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if Apple shares close at or above the initial share price on any valuation date other than the final valuation date.
The payout at maturity will be par plus the contingent coupon unless Apple stock finishes below the barrier price, in which case investors will be fully exposed to the stock’s decline.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $1.06 million, increased from $510,000
|
| Maturity: | April 20, 2017
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 8.8% per year if Apple shares close at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Apple stock finishes below barrier price, in which case full exposure to stock’s decline
|
| Call: | Automatically at par plus contingent coupon if Apple shares close at or above initial share price on any valuation date other than final valuation date
|
| Initial share price: | $11.04
|
| Barrier price: | $77.728, 70% of initial share price
|
| Pricing dates: | Oct. 16 for $510,000, Oct. 20 for $550,000
|
| Settlement date: | Oct. 23
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 89114QTX6
|
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