Published on 12/27/2018 in the Prospect News Structured Products Daily.
New Issue: TD prices $45,000 contingent interest barrier autocallable on indexes
By Devika Patel
Knoxville, Tenn., Dec. 27 – Toronto-Dominion Bank priced $45,000 of autocallable contingent interest barrier notes due Dec. 23, 2020 linked to the lesser performing of 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 an annual rate of 8.1% if each index closes at or above the 75% coupon barrier level on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial price on any quarterly observation date beginning on June 21, 2019 and ending on Sept. 21, 2020.
The payout at maturity will be par unless either index finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $45,000
|
| Maturity: | Dec. 23, 2020
|
| Coupon: | 8.1%, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless either index finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call: | At par if each index closes at or above initial price on any quarterly observation date starting on June 21, 2019 and ending on Sept. 21, 2020
|
| Initial levels: | 1,292.086 for Russell and 3,000.61 for Stoxx
|
| Coupon/barrier levels: | 969.0645 for Russell and 2,250.4575 for Stoxx; 75% of initial levels
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 28
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 89114QFE3
|
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