New Issue: BMO sells $5 million of 9% autocallable fixed interest notes on ETFs

By Kiku Steinfeld

Chicago, Aug. 24 – Toronto-Dominion Bank priced $5 million of 9% autocallable buffer notes with fixed interest payments due April 12, 2021 linked to the shares of iShares Russell 2000 ETF, the SPDR S&P 500 ETF trust and the SPDR Dow Jones Industrial Average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par plus the contingent coupon if the shares of each fund close at or above the initial share price on any monthly call observation date beginning in November.

The payout at maturity will be par plus the contingent coupon unless the fund finishes below the buffer price, 87.75% of the initial share price, in which case investors will lose 1% for every 1% decline of the stock beyond the buffer, and the redemption amount will equal the physical delivery amount (a number of shares of the least performing stock equal to $1,000 divided by the initial share price plus the buffer percentage) or, at the issuer’s option, the cash equivalent.

BMO Capital Markets Corp. is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Autocallable buffer notes with fixed interest payments
Underlying funds:	iShares Russell 2000 ETF, the SPDR S&P 500 ETF trust and the SPDR Dow Jones Industrial Average ETF trust
Amount:	$5 million
Maturity:	April 12, 2021
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par plus contingent coupon unless any fund finishes below buffer price, in which case, 1% loss for every 1% decline of the stock beyond buffer, and the redemption amount will equal physical delivery amount (a number of shares of least performing stock equal to $1,000 divided by initial share price plus buffer percentage) or cash equivalent
Call:	Automatically at par plus contingent coupon if shares of each fund close at or above initial share price on any monthly call observation date beginning in November
Initial share prices:	$334.57 for S&P 500 ETF trust, $274.62 for Dow Jones ETF trust and $156.17 for Russell 2000 ETF trust
Buffer prices:	$293.59 for S&P 500 ETF trust, $240.98 for Dow Jones ETF trust and $137.04 for Russell 2000 ETF trust, 87.75% of initial share prices
Pricing date:	Aug. 7
Settlement date:	Aug. 12
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06367W3F8

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