Published on 12/3/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.05 million contingent interest barrier autocalls on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 3 – Toronto-Dominion Bank priced $1.05 million of autocallable contingent interest barrier notes with daily close monitoring knock-in due Feb. 24, 2021 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 9.95% if each index closes at or above its barrier value, 70% of its initial level, on the observation date that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly valuation date starting Feb. 22, 2020.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its barrier value, 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
|
| Issue: | Autocallable contingent interest barrier notes with daily close monitoring knock-in
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1,053,000
|
| Maturity: | Feb. 24, 2021
|
| Coupon: | 9.95% per year, payable quarterly if indexes close at or above barrier values on observation date that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below initial level and either index has ever closed below barrier value, 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 starting Feb. 22, 2020
|
| Initial index levels: | 1,588.943 for Russell 2000 and 3,110.29 for S&P 500
|
| Barrier values: | 1,112.2601 for Russell 2000 and 2,177.203 for S&P 500; 70% of initial levels
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 27
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.5%
|
| Cusip: | 89114R5W2
|
|
|
© 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.
