Published on 7/29/2019 in the Prospect News Structured Products Daily.
New Issue: TD sells $3 million 10% autocallable fixed interest barrier notes on stocks
By Wendy Van Sickle
Columbus, Ohio, July 29 – Toronto-Dominion Bank priced $3 million of 10% autocallable fixed interest barrier notes due July 29, 202a linked to the shares of Facebook, Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
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 monthly call observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the barrier price, 59.5% of the initial share 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 fixed interest barrier notes
|
| Underlying stocks: | Facebook, Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc.
|
| Amount: | $3 million
|
| Maturity: | July 29, 2021
|
| Coupon: | 10%, payable monthly
|
| 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 initial share price on any monthly call observation date after six months
|
| Initial share prices: | $204.66 for Facebook, $2,000.81 for Amazon, $1,139.73 for Alphabet, $317.94 for Netflix
|
| Barrier prices: | $121.7727 for Facebook, $1,190.482 for Amazon, $678.1394 for Alphabet, $189.1743 for Netflix, 59.5% of initial share prices
|
| Pricing date: | July 24
|
| Settlement date: | July 25
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.755%
|
| Cusip: | 891160RZ8
|
|
|
© 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.
