Published on 1/15/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $882,000 contingent interest buffered autocallables linked to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Jan. 15 – Toronto-Dominion Bank priced $882,000 of autocallable contingent interest buffered notes due Jan. 13, 2021 linked to the lesser performing of the Russell 2000 index and the S&P 500 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 7.4% if each index closes at or above its interest barrier value, 80% of its initial level, on the valuation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly valuation date after six months.
The payout at maturity will be par unless either index finishes below its buffer value, 80% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest buffered notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $882,000
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| Maturity: | Jan. 13, 2021
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| Coupon: | 7.4% per year, payable quarterly if indexes close at or above interest barrier values on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below barrier value, in which case full exposure to lesser-performing index’s decline
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly valuation date after six months
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| Initial index levels: | 1,447.385 for Russell 2000 and 2,596.26 for S&P 500
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| Interest barrier/buffers: | 1,157.908 for Russell 2000 and 2,077.008 for S&P 500; 80% of initial levels
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 16
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.5%
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| Cusip: | 89114QHQ4
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