Published on 6/27/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $869,000 contingent interest barrier autocalls on Russell, S&P
By Sarah Lizee
Olympia, Wash., June 27 – Toronto-Dominion Bank priced $869,000 of autocallable contingent interest barrier notes due June 29, 2021 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 6.5% if each index closes at or above its barrier value, 75% of its initial level, on the valuation date for that quarter.
Starting Dec. 25, the notes will be called at par if each index closes at or above its initial level on any quarterly valuation date.
The payout at maturity will be par unless either index finishes below its barrier value, 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
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $869,000
|
| Maturity: | June 29, 2021
|
| Coupon: | 6.5% per year, payable quarterly if indexes close at or above barrier values on valuation date for that quarter
|
| Price: | Par
|
| 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 starting on Dec. 25
|
| Initial index levels: | 1,521.035 for Russell 2000 and 2,917.38 for S&P 500
|
| Barrier values: | 1,140.77625 for Russell 2000 and 2,188.035 for S&P 500; 75% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 89114QU71
|
© 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.
