Published on 1/13/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.08 million contingent interest barrier autocallable on index, ETF
By Sarah Lizee
Olympia, Wash., Jan. 13 – Toronto-Dominion Bank priced $1.08 million of autocallable contingent interest barrier notes due Jan. 12, 2023 linked to the lesser performing of the VanEck Vectors Gold Miners exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.37% if each asset closes at or above the 65% coupon barrier level on the observation date for that quarter.
The notes will be called at par plus the coupon if each asset closes at or above its initial price on any quarterly observation date starting July 10.
The payout at maturity will be par unless either asset finishes below the 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing ETF.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
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| Underlying ETFs: | VanEck Vectors Gold Miners and Euro Stoxx 50 index
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| Amount: | $1,075,000
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| Maturity: | Jan. 12, 2023
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| Coupon: | 7.37%, payable quarterly if each asset closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless either asset finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing asset
|
| Call: | At par plus coupon if each asset closes at or above initial price on any quarterly observation date starting July 10
|
| Initial levels: | $28.45 for ETF, 3,789.52 for index
|
| Coupon/barrier levels: | $18.4925 for ETF, 2,463.188 for index; 65% of initial levels
|
| Pricing date: | Jan. 10
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| Settlement date: | Jan. 15
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2%
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| Cusip: | 89114RBY1
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