Published on 11/5/2018 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $2.58 million contingent interest barrier autocalls on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 5 – Toronto-Dominion Bank priced $2.58 million of autocallable contingent interest barrier notes with daily barrier observation due Jan. 31, 2020 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 quarter, the notes pay a contingent coupon at an annual rate of 10% if each index closes at or above the barrier level, 70% of the initial level, on each day that quarter.
Starting Jan. 29, 2019, 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: | $2,578,000
|
| Maturity: | Jan. 31, 2020
|
| Coupon: | 10% per year, payable quarterly if each index closes at or above barrier level on each day that quarter
|
| 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 Jan. 29, 2019, automatically at par if each index closes at or above initial level price on any valuation date other than final valuation date
|
| Initial level: | 2,641.25 for S&P, 1,477.306 for Russell
|
| Barrier levels: | 1,848.875 for S&P, 1,034.114 for Russell, 70% of initial levels
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 1
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.5%
|
| Cusip: | 89114QRY6
|
|
|
© 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.
