New Issue: TD sells $500,000 of 11% fixed-interest barrier notes on stocks

By Sarah Lizee

Olympia, Wash., June 19 – Toronto-Dominion Bank priced $500,000 of 11% fixed-interest barrier notes due June 18, 2021 linked to common stocks Bank of America Corp. and Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless any stock finishes below its barrier level, 60% of its initial level, 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
Issue:	Fixed-interest barrier notes
Underlying stocks:	Bank of America Corp. and Citigroup Inc.
Amount:	$500,000
Maturity:	June 18, 2021
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par unless any stock finishes below its barrier level, in which case investors will be fully exposed to the laggard stock’s decline
Initial levels:	$25.15 for BofA, $52.98 for Citi
Barrier levels:	$15.09 for BofA, $31.788 for Citi, 60% of initial levels
Pricing date:	June 16
Settlement date:	June 19
Agent:	TD Securities (USA) LLC
Fees:	1.7%
Cusip:	89114RMU7

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