By Wendy Van Sickle
Columbus, Ohio, March 7 – Toronto-Dominion Bank priced $1.33 million of autocallable contingent interest barrier notes due March 5, 2020 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.4% if the ETF closes at or above the barrier price, 60% of the initial share price, on the valuation date for that quarter.
The notes will be called at par if the ETF closes at or above the initial share price on any valuation date other than the final valuation date.
The payout at maturity will be par unless the ETF finishes below the barrier price, in which case investors will be fully exposed to the ETF’s decline.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,328,000
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| Maturity: | March 5, 2020
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| Coupon: | 8.4% per year, payable quarterly if ETF closes at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below barrier price, in which case full exposure to ETF’s decline
|
| Call: | Automatically at par if ETF closes at or above initial share price on any valuation date other than final valuation date
|
| Initial share price: | $21.93
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| Barrier price: | $13.158, 60% of initial share price
|
| Pricing date: | March 2
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| Settlement date: | March 7
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3.25%
|
| Cusip: | 89114QZP6
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