Published on 10/2/2018 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $115,000 contingent interest barrier autocallables on three stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – Toronto-Dominion Bank priced $115,000 of autocallable contingent interest barrier notes due Sept. 30, 2021 linked to the shares of Amazon.com, Inc., Facebook, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11.1% per year if each stock closes at or above the barrier price, 60% of the initial share price, on the valuation date for that quarter.
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 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
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying stocks: | Amazon.com, Inc., Facebook, Inc. and Nvidia Corp.
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| Amount: | $115,000
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| Maturity: | Sept. 30, 2021
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 11.1% per year if all shares close at or above barrier price on valuation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline
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| Call: | Automatically at par plus contingent coupon if shares of each stock close at or above initial share price on any quarterly call observation date
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| Initial share prices: | $1,974.55 for Amazon, $164.91 for Facebook, $268.41 for Nvidia
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| Barrier prices: | $1,184.73 for Amazon, $98.946 for Facebook, $161.046 for Nvidia, 60% of initial share prices
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 28
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| Agent: | TD Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 89114QQS0
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