Published on 8/7/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.27 million autocallable contingent interest barrier notes on three stocks
By Kiku Steinfeld
Chicago, Aug. 7 – Toronto-Dominion Bank priced $1.27 million of autocallable contingent interest barrier notes due July 28, 2022 linked to the common stocks of Citigroup Inc., Carnival Corp. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 9.95% per year if each stock closes at or above the barrier price, 55% of the initial share price, on the valuation date for that month.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above 95% the initial share price on any quarterly call observation date.
The payout at maturity will be par plus the contingent coupon unless the 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.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stocks: | Carnival Corp., Citigroup Inc. and FedEx Corp.
|
| Amount: | $1,270,000
|
| Maturity: | July 28, 2022
|
| Coupon: | Each month, notes pay contingent coupon at rate of 9.95% per year if all shares close at or above barrier price on valuation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline
|
| Call: | Automatically at par plus contingent coupon if shares of each stock close at or above 95% of initial share price on any quarterly call observation date
|
| Initial share prices: | $72.16 for Citibank, $47.27 for Carnival, $174.94 for FedEx
|
| Barrier prices: | $39.6880 for Citibank, $25.9985 for Carnival, $96.2170 for FedEx; 55% of initial share prices
|
| Call threshold prices: | $68.5520 for Citibank, $44.9065 for Carnival, $166.1930 for FedEx; 95% of initial share prices
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 89114QY93
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
