By Sarah Lizee
Olympia, Wash., Dec. 24 – Toronto-Dominion Bank priced $2.93 million of 0% bearish autocallable absolute return notes due June 11, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If on any day during the life of the notes the index closes at less than 81% of the initial level, the notes will be automatically called at par.
If the notes are not called and the index closes at or above its initial level, the payout will be par.
If the notes are not called and the index falls by no more than 19%, the payout will be par plus the absolute value of the index return. If the index declines by more than 19%, investors will receive par.
The underwriter is TD Securities (USA) LLC.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Bearish autocallable absolute return notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,925,000
|
| Maturity: | June 11, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and the index closes at or above its initial level, par; if the notes are not called and the index falls by no more than 19%, par plus the absolute value of the index return; if the index declines by more than 19%, par
|
| Call: | Automatically at par if on any day during life of the notes the index closes at less than 81% of initial level
|
| Initial level: | 3,135.96
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 16
|
| Underwriter: | TD Securities (USA) LLC
|
| Fees: | 1.4%
|
| Cusip: | 89114R5T9
|
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