By Sarah Lizee
Olympia, Wash., Jan. 23 – Toronto-Dominion Bank priced $2.63 million of autocallable contingent interest barrier notes due July 25, 2022 linked to the shares of American Express Co. and ViacomCBS 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 8.19% per year if each stock closes at or above the barrier price, 65% of the initial share price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above 95% of the initial share price on any quarterly call observation 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 laggard stock’s decline.
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 stocks: | American Express Co. and ViacomCBS Inc.
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Amount: | $2,625,000
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Maturity: | July 25, 2022
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Coupon: | Each quarter, notes pay contingent coupon at rate of 8.19% per year if all shares close at or above barrier price on valuation date
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline
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Call: | Automatically at par plus contingent coupon if shares of each stock close at or above 95% of initial share price on any quarterly call observation date
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Initial share prices: | $130.53 for American Express, $38.72 for ViacomCBS
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Barrier prices: | $84.8445 for American Express, $25.168 for ViacomCBS, 65% of initial share prices
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Pricing date: | Jan. 21
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Settlement date: | Jan. 24
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Agent: | TD Securities (USA) LLC
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Fees: | 2.75%
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Cusip: | 89114RBP0
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