By Wendy Van Sickle
Columbus, Ohio, June 11 – Toronto-Dominion Bank priced $1.05 million of autocallable contingent coupon barrier notes with memory coupon due May 26, 2020 linked the common stock of DocuSign, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 19.2% if the stock closes at or above its 70% coupon barrier on the observation date for that quarter, plus any previously unpaid contingent interest payments.
The notes will be automatically called at par on any coupon payment date other than the final one if the closing level of the stock on the immediately preceding observation date is greater than or equal to the initial level.
The payout at maturity will be par unless the stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent coupon barrier notes with memory coupon
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| Underlying stock: | DocuSign, Inc.
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| Amount: | $1.05 million
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| Maturity: | May 26, 2020
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| Coupon: | 19.2%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter, in which case coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger level, in which case investors will be fully exposed to any losses
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| Call: | Automatically called at par on any coupon payment date other than the final one if the closing level of the stock on the immediately preceding observation date is greater than or equal to the initial level
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| Initial level: | $53.67
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| Trigger/coupon barrier: | $37.569, 70% of initial level
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 89114QT73
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