TD Bank to price dual directional barrier notes tied to Humana

By Sarah Lizee

Olympia, Wash., Jan. 8 – Toronto-Dominion Bank plans to price 0% dual directional barrier notes due Jan. 27, 2021 linked to the common stock of Humana Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the final price of the stock is greater than or equal to its initial price, the payout at maturity will be par plus the stock’s return, subject to a maximum return of 14.7%.

If the final price of the stock is less than the initial price but greater than or equal to the barrier level, 80% of the initial index price, the payout will be par plus the absolute value of the stock’s return.

If the final price of the stock is less than the barrier level, investors will be exposed to the stock’s decline from its initial price.

TD Securities (USA) LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

The notes will price on Jan. 10.

The Cusip number is 89114RBS4.

© 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.