TD Bank plans contingent interest barrier autocalls on three stocks

By Sarah Lizee

Olympia, Wash., Nov. 19 – Toronto-Dominion Bank plans to price 11% to 13% autocallable contingent interest barrier notes due May 28, 2020 linked to the shares of Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 11% to 13% per year if each stock closes at or above the barrier price, 70% of the initial share price, on the valuation date for that period.

The notes will be called at par plus the contingent coupon if the shares of each stock close at or above the initial share price on any quarterly call observation date.

The payout at maturity will be par plus the contingent coupon unless any stock finishes below the barrier price, in which case investors will be fully exposed to the laggard stock’s decline.

TD Securities (USA) LLC is the underwriter.

The notes will price on Nov. 26 and settle on Nov. 30.

The Cusip number is 89114QEH7.

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