By William Gullotti
Buffalo, N.Y., Aug. 18 – Toronto-Dominion Bank priced $2 million of autocallable contingent interest barrier notes with memory interest due May 24, 2022 linked to the performance of the S&P 500 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 5.65% if the index closes at or above the 75% contingent interest barrier level on the observation date for that quarter. Previously unpaid coupons will also be paid.
The notes will be called at par plus coupon if the index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus any coupon due unless the index finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes with memory interest
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,000,000
|
| Maturity: | May 24, 2022
|
| Coupon: | 5.65% annual rate, payable quarterly if the index closes at or above contingent interest barrier level on observation date for that quarter; previously unpaid coupons will also be paid.
|
| Price: | Par
|
| Payout at maturity: | Par unless the index finishes below barrier level, in which case 1% loss for each 1% decline from initial level
|
| Call: | At par plus coupon if the index closes above initial level on any quarterly call observation date
|
| Initial level: | 4,152.10
|
| Coupon barrier level: | 3,114.075; 75% of initial level
|
| Barrier level: | 3,114.075; 75% of initial level
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 89114TJC7
|
© 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.
