Published on 7/11/2018 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.14 million contingent interest barrier autocallables linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, July 11 – Toronto-Dominion Bank priced $1.14 million of autocallable contingent interest barrier notes with daily barrier observation due Oct. 1, 2019 linked to the lesser-performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at an annual rate of 9% if each index closes at or above the barrier level, 70% of the initial level, on each day that month.
Starting in September, the notes will be called at par if each index closes at or above the level on any valuation date other than the final valuation date.
The payout at maturity will be par unless the lesser performing index finishes below the barrier level, in which case investors will be fully exposed to its decline.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes with daily barrier observation
|
| Underlying indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $1,137,000
|
| Maturity: | Oct. 1, 2019
|
| Coupon: | 9% per year, payable monthly if each index closes at or above barrier level on each day that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to lesser performing index’s decline
|
| Call: | Beginning in September, automatically at par if each index closes at or above initial level price on any valuation date other than final valuation date
|
| Initial level: | 2,717.07 for S&P, 1,657.51 for Russell
|
| Barrier levels: | 1,901.949 for S&P, 1,160.257 for Russell, 70% of initial share price
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.5%
|
| Cusip: | 89114QPB8
|
|
|
© 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.
