TD Bank eyes contingent interest barrier autocalls on Russell, Stoxx

By Wendy Van Sickle

Columbus, Ohio, Dec. 14 – Toronto-Dominion Bank plans to price autocallable contingent interest barrier notes due Dec. 27, 2023 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of between 8.31% and 9.31% per year if each index closes at or above the barrier level, 75% of the initial level, on the valuation date for that quarter.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date beginning on June 21, 2019.

The payout at maturity will be par plus the contingent coupon unless either index finishes below the barrier level, in which case investors will be fully exposed to the laggard index’s decline.

TD Securities (USA) LLC is the underwriter.

The notes will price on Dec. 21 and settle on Dec. 28.

The Cusip number is 89114QFU7.

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