Published on 1/29/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $85,000 contingent interest barrier autocalls on Stoxx, Russell
By Sarah Lizee
Olympia, Wash., Jan. 29 – Toronto-Dominion Bank priced $85,000 of autocallable contingent interest barrier notes due Feb. 1, 2021 linked to the lesser-performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.6% if each index closes at or above the barrier level, 70% of the initial level, on the observation that quarter.
Starting July 28, the notes will be called at par if each index closes at or above the level on any quarterly valuation date other than the final valuation date.
The payout at maturity will be par unless the lesser performing index finishes below the barrier level, in which case investors will be fully exposed to its decline.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying indexes: | Euro Stoxx 50 index and Russell 2000 index
|
| Amount: | $85,000
|
| Maturity: | Feb. 1, 2021
|
| Coupon: | 8.6% per year, payable quarterly if each index closes at or above barrier level on observation date that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to lesser performing index’s decline
|
| Call: | Beginning July 28, automatically at par if each index closes at or above initial level price on any valuation date other than final valuation date
|
| Initial level: | 3,137.27 for Stoxx, 1,473.536 for Russell
|
| Barrier levels: | 2,196.089 for Stoxx, 1,031.4752 for Russell, 70% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 89114QGG7
|
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