By Sarah Lizee
Olympia, Wash., Aug. 22 – Toronto-Dominion Bank priced $1.01 million of autocallable contingent interest barrier notes with memory interest due Sept. 2, 2020 linked to 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 the rate of 8% per year, plus any previously unpaid coupons, if the index closes at or above the barrier level, 80% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the indexes closes at or above the initial level on any valuation date other than the final valuation date.
The payout at maturity will be par plus the contingent coupon unless the index finishes below the barrier price, in which case investors will be fully exposed to the index’s decline.
TD Securities (USA) LLC is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable contingent interest barrier notes with memory interest
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Underlying index: | S&P 500 index
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Amount: | $1,005,000
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Maturity: | Sept. 2, 2020
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Coupon: | Each quarter, notes pay contingent coupon at rate of 8% per year, plus any previously unpaid coupons, if shares close at or above barrier price on valuation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless index finishes below barrier price, in which case full exposure to index’s decline
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Call: | Automatically at par plus contingent coupon if shares close at or above initial share price on any valuation date other than final valuation date
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Initial level: | 2,888.68
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Barrier level: | 2,310.944, 80% of initial share price
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Pricing date: | Aug. 16
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Settlement date: | Aug. 21
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Agent: | TD Securities (USA) LLC
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Fees: | 1%
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Cusip: | 89114Q5K0
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