By Taylor Fox
New York, Nov. 23 – Toronto-Dominion Bank priced $600,000 of autocallable contingent interest buffered notes due Nov. 30, 2021 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 13.6% if the stock closes at or above its interest barrier value, 80% of its initial level, on the valuation date for that period.
The notes will be called at par if the stock closes at or above its initial level on any quarterly valuation date.
The payout at maturity will be par unless the stock finishes below its buffer value, 80% of its initial level, in which case investors will lose 1.25% for each 1% decline beyond the 20% buffer.
TD Securities (USA) LLC is the underwriter. JPMorgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest buffered notes
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| Underlying stock: | Alibaba Group Holding Ltd.
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| Amount: | $600,000
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| Maturity: | Nov. 30, 2021
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| Coupon: | 13.6% annual rate, payable quarterly if stock closes at or above interest barrier values on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below buffer value, in which case 1.25% loss for each 1% decline beyond 20% buffer
|
| Call: | Automatically at par if each stock closes at or above initial level on any quarterly valuation date
|
| Initial stock level: | $265.65
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| Interest barrier: | $212.52; 80% of initial levels
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| Buffer level: | $212.52; 80% of initial levels
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| Pricing date: | Nov. 12
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| Settlement date: | Nov. 17
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| Agent: | TD Securities (USA) LLC
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| Placement agents: | JPMorgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 89114RXU5
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