By Sarah Lizee
Olympia, Wash., Aug. 15 – Toronto-Dominion Bank priced $1.05 million of autocallable contingent interest barrier notes due Nov. 18, 2020 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 9.9% if each index closes at or above its barrier value, 70% of its initial level, on the valuation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly valuation date.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its barrier value on any day during the life of the notes, in which case investors will be fully exposed to the decline of the lesser-performing index.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $1,053,000
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| Maturity: | Nov. 18, 2020
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| Coupon: | 9.9% per year, payable quarterly if indexes close at or above barrier values on valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below its barrier value on any day during the life of the notes, in which case investors will be fully exposed to the decline of the lesser-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly valuation date
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| Initial index levels: | 1,467.522 for Russell 2000 and 2,840.60 for S&P 500
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| Barrier values: | 1,027.2654 for Russell 2000 and 1,988.42 for S&P 500; 70% of initial levels
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.35%
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| Cusip: | 89114Q5S3
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