Published on 6/5/2019 in the Prospect News Structured Products Daily.
New Issue: TD sells $4.17 million contingent interest barrier autocallables on stocks, ETFs
By Marisa Wong
Morgantown, W.Va., June 5 – Toronto-Dominion Bank priced $4.17 million of autocallable contingent interest barrier notes due May 17, 2022 linked to the common stock of Caterpillar Inc., the common stock of Nvidia Corp., the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 22.3% per year if each underlying closes at or above the coupon barrier, 70% of the initial value, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each underlying closes at or above the call threshold, 90% of the initial value, on any quarterly call observation date.
The payout at maturity will be par unless any underlying finishes below the 70% barrier level, in which case investors will receive a number of shares of the least performing asset equal to $1,000 divided by the initial value of that asset.
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 assets: | Caterpillar Inc. (Symbol: CAT), Nvidia Corp. (Symbol: NVDA), Energy Select Sector SPDR fund and Financial Select Sector SPDR fund
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| Amount: | $4,173,000
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| Maturity: | May 17, 2022
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| Coupon: | 22.3% per year, payable each quarter that each underlying closes at or above the coupon barrier on the observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any underlying finishes below barrier value, in which case a number of shares of the least performing asset equal to $1,000 divided by the initial value of that asset
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| Call: | Automatically at par plus contingent coupon if each underlying closes at or above the call threshold on any quarterly call observation date
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| Initial values: | $125.30 for Caterpillar, $158.45. for Nvidia, $62.95 for energy fund, $26.68 for financial fund
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| Coupon barriers: | $87.710 for Caterpillar, $110.915 for Nvidia, $44.065 for energy fund, $18.676 for financial fund; 70% of initial values
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| Call thresholds: | $112.770 for Caterpillar, $142.605 for Nvidia, $56.655 for energy fund, $24.012 for financial fund; 90% of initial values
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| Barrier values: | $87.710 for Caterpillar, $110.915 for Nvidia, $44.065 for energy fund, $18.676 for financial fund; 70% of initial values
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| Equity ratios: | 7.9808 for Caterpillar, 6.3111 for Nvidia, 15.8856 for energy fund , 37.4813 for financial fund
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| Pricing date: | May 13
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| Settlement date: | May 15
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| Agent: | TD Securities (USA) LLC
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| Fees: | 4%
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| Cusip: | 891160RT2
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