Published on 6/5/2018 in the Prospect News Structured Products Daily.
New Issue: TD prices $500,000 6% contingent interest autocalls tied to Stoxx, S&P
By Susanna Moon
Chicago, June 5 – Toronto-Dominion Bank priced $500,000 of autocallable contingent interest barrier notes due May 28, 2021 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6% if each index closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly valuation date.
The payout at maturity will be par unless either underlying index finishes below 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying indexes: | Euro Stoxx 50 index, S&P 500 index
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| Amount: | $500,000
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| Maturity: | May 28, 2021
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| Coupon: | 6% annualized, payable monthly if each index closes at or above 60% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index falls by more than 40%, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any monthly valuation date
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| Initial levels: | 3,515.36 for Stoxx, 2,721.33 for S&P
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| Trigger levels: | 2,109.216 for Stoxx, 1,632.798 for S&P, 60% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 89114QNL8
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