By Sarah Lizee
Olympia, Wash., June 10 – Toronto-Dominion Bank priced $2.5 million of autocallable contingent interest barrier notes with memory interest due June 23, 2020 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.41% per year if the shares close at or above the barrier price, 70% of the initial share price, on the valuation date for that quarter, plus any previously unpaid coupons.
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, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable contingent interest barrier notes with memory coupon
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Underlying stock: | Amazon.com, Inc.
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Amount: | $2.5 million
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Maturity: | June 23, 2020
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Coupon: | Each quarter, notes pay contingent coupon at rate of 10.41% per year if shares close at or above barrier price on valuation date for that quarter, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless stock finishes below barrier price, in which case full exposure to stock’s decline
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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: | $1,738.50
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Barrier price: | $1,216.95, 70% of initial share price
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Pricing date: | June 6
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Settlement date: | June 11
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Agent: | TD Securities (USA) LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 89114QX52
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