By Kiku Steinfeld
Chicago, Oct. 4 – Toronto-Dominion Bank priced $1.17 million of autocallable contingent interest barrier notes with memory interest due Oct. 7, 2020 linked to the common stock of SVB Financial Group, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the barrier price – 70% of its initial price – on any quarterly review date other than the final one, the notes will pay a contingent coupon for that quarter at the annual rate of 14.53% and any previously unpaid contingent interest payments with respect to any previous review days on which the stock closed below the interest barrier.
If the stock closes at or above the initial price on a quarterly review date other than the final one, the notes will be called at par plus the contingent coupon and any previously unpaid contingent interest payments with respect to any previous review days on which the stock closed below the interest barrier.
If the notes are not called and the stock finishes at or above the 70% barrier price, the payout at maturity will be par plus the contingent coupon and any previously unpaid contingent interest payments.
Otherwise, investors will be exposed to the stock’s decline from its initial price.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes with memory interest
|
| Underlying stocks: | SVB Financial Group
|
| Amount: | $1,170,000
|
| Maturity: | Oct. 7, 2020
|
| Coupon: | 14.53% per year, payable quarterly, plus any previously unpaid contingent interest payments with respect to any previous review dates if stock closes at or above barrier price on any quarterly review date
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and stock finishes at or above the barrier price, par plus contingent coupon and any previously unpaid contingent interest payments; otherwise, investors will be exposed to stock’s decline from the initial price
|
| Call: | If stock closes at or above initial price on any quarterly review date other than final one, automatically at par plus contingent coupon and any previously unpaid contingent interest payments
|
| Initial stock prices: | $216.58
|
| Barrier price: | $151.606, 70% of initial stock price
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 25
|
| Agent: | TD Securities (USA) LLC
|
| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 89114R2D7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
