By Wendy Van Sickle
Columbus, Ohio, July 5 – Toronto-Dominion Bank priced $872,000 of autocallable contingent interest barrier notes due July 2, 2021 linked to the common stock of Boeing Co., 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 Boeing 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 the 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 the 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
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| Underlying stock: | Boeing Co.
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| Amount: | $872,000
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| Maturity: | July 2, 2021
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| 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 plus contingent coupon unless stock finishes below barrier price, in which case full exposure to stock’s decline
|
| 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
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| Initial share price: | $329.82
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| Barrier price: | $230.874, 70% of initial share price
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| Pricing date: | June 27
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| Settlement date: | July 3
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.625%
|
| Cusip: | 89114QNX2
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