TD Bank amends Cusip for Raymond James Quality Yield Equity notes

By Marisa Wong

Morgantown, W.Va., March 23 – Toronto-Dominion Bank amended the Cusip number for its upcoming notes due March 29, 2019 linked to an equally weighted basket of 23 “quality yield” common equity securities selected in March by Raymond James & Associates, Inc.

The Cusip number is 89114QZS0 (previously 89114QZQ4), according to a 424B3 filing with the Securities and Exchange Commission.

The reference stocks represent companies in the S&P 500 index chosen by Raymond James for having dividend yields higher than the S&P 500 constituents as a whole and for having senior long-term debt credit ratings considered lower medium grade or higher by at least one nationally recognized statistical rating organization.

The underlying companies are 3M Co., AbbVie Inc., AT&T Inc., BB&T Corp., Boeing Co., Cardinal Health, Inc., Carnival Corp., Cisco Systems, Inc., CVS Health Corp., Johnson & Johnson, Microsoft Corp., NextEra Energy, Inc., Occidental Petroleum Corp., Omnicom Group Inc., PepsiCo, Inc., Pfizer Inc., Praxair, Inc., Qualcomm Inc., Schlumberger Ltd., Simon Property Group, Inc., Sysco Corp., Texas Instruments Inc. and United Technologies Corp.

Each quarter, investors will receive a distribution equal to the sum for each reference share of an amount in dollars equal to (a) 100% of the per share gross cash dividends declared by the reference share issuer to holders of record for which the ex-dividend date occurred during the relevant dividend period multiplied by (b) that reference share’s dividend reference amount. The distribution may be zero.

The dividend reference amount equals (a) $1,000 multiplied by (b) 96.75% divided by (c) the adjusted initial share price multiplied by (d) the reference share weighting.

At pricing, the agent may decide to assign a lower reference share weighting for up to four reference stocks that have lower liquidity relative to the other reference stocks. The weighting could be as low as 0.5% in this case.

For each $1,000 principal amount of notes, the payout at maturity will be $1,000 multiplied by 96.75% multiplied by the basket level percentage. Because of the 96.75% participation rate, investors will receive less than par if the basket level percentage is less than 103.36%.

TD Securities (USA) LLC is the agent.

The notes will price on March 24.

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