Published on 8/27/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $3.55 million fixed interest barrier autocalls on stocks
By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – Toronto-Dominion Bank priced $3.55 million of 9% autocallable fixed interest barrier notes due Aug. 29, 2022 linked to the least performing of the common stocks of Amazon.com, Inc., Alibaba Group Holding Ltd., Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial share price on any monthly call observation date after six months.
The payout at maturity will be par unless any stock finishes below its barrier value, 60% of its initial value, in which case investors will be fully exposed to the decline of the least-performing stock.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable fixed interest barrier notes
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| Underlying stocks: | Amazon.com, Inc., Alibaba Group Holding Ltd., Target Corp. and Walmart Inc.
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| Amount: | $3.55 million
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| Maturity: | Aug. 29, 2022
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| Coupon: | 9%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier value, in which case full exposure to least-performing stock’s decline
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| Call: | Automatically at par if each stock closes at or above initial level on any monthly call observation date after six months
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| Initial share prices: | $3,307.46 for Amazon, $276.02 for Alibaba, $153.24 for Target, $131.33 for Walmart
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| Barrier values: | $1,901.7895 for Amazon, $178.7115 for Alibaba, $88.113 for Target, $75.5148 for Walmart, or 57.5% of initial share prices
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 28
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| Agent: | TD Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 89117FYB9
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