New Issue: TD Bank sells $2.89 million market linked contingent autocalls on three indexes

By William Gullotti

Buffalo, N.Y., March 3 – Toronto-Dominion Bank priced $2.89 million of 0% market-linked autocallable securities with contingent downside due March 1, 2027 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent interest payment at the rate of 9.4% per year if each index closes at or above the coupon barrier level, 75% of the initial level, on the observation date for that period.

The notes will be automatically called at par plus the coupon if each index closes at or above initial levels on any quarterly observation date after six months.

The payout at maturity will be par plus the final coupon unless any index falls by more than 25%, in which case investors will be fully exposed to the decline of the worst performer from its initial level.

TD Securities (USA) LLC and Wells Fargo Securities are the agents.

Issuer:	Toronto-Dominion Bank
Issue:	Market-linked autocallable securities with contingent coupon and contingent downside
Underlying indexes:	Dow Jones industrial average, Russell 2000 index, S&P 500 index
Amount:	$2,885,000
Maturity:	March 1, 2027
Coupon:	9.4% annual rate, payable quarterly if all indexes close at or above their coupon barrier levels on the relevant observation date
Price:	Par
Payout at maturity:	Par plus final coupon unless any index falls by more than 25%, in which case full exposure to decline of worst performer from its initial level
Call:	Automatically at par plus coupon if each index closes at or above initial levels on any quarterly observation date after six months
Initial level:	32,656.7 for Dow, 1,896.991 for Russell, 3,970.15 for S&P
Coupon barrier:	24,492.525 for Dow, 1,422.74325 for Russell, 2,977.6125 for S&P; 75% of initial levels
Threshold level:	24,492.525 for Dow, 1,422.74325 for Russell, 2,977.6125 for S&P; 75% of initial levels
Pricing date:	Feb. 28
Settlement date:	March 3
Agents:	TD Securities (USA) LLC and Wells Fargo Securities
Fees:	2.225%
Cusip:	89114YNF4

© 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.