TD Bank plans contingent interest barrier autocallables on three stocks

By Sarah Lizee

Olympia, Wash., Oct. 9 – Toronto-Dominion Bank plans to price autocallable contingent interest barrier notes due Oct. 28, 2021 linked to the shares of Amazon.com, Inc., Facebook, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 11.55% per year if each stock closes at or above the barrier price, 60% of the initial share price, on the valuation date for that month.

The notes will be called at par plus the contingent coupon if the shares of each stock close at or above the initial share price on any quarterly call observation date.

The payout at maturity will be par plus the contingent coupon unless any stock finishes below the barrier price, in which case investors will be fully exposed to the laggard stock’s decline.

TD Securities (USA) LLC is the underwriter.

The notes will price on Oct. 26.

The Cusip number is 89114QRP5.

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