TD Bank to price contingent interest barrier autocalls on two ETFs

By Wendy Van Sickle

Columbus, Ohio, Dec. 14 – Toronto-Dominion Bank plans to price autocallable contingent interest barrier notes due June 24, 2020 linked to the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 20.5% to 22.5% per year if each ETF closes at or above the barrier price, 80% of the initial share price, on the valuation date for that quarter.

The notes will be called at par plus the contingent coupon if the shares of each ETF close at or above the initial share price on any quarterly call observation date beginning on March 21, 2019.

The payout at maturity will be par plus the contingent coupon unless either ETF finishes below the barrier price, in which case investors will be fully exposed to the laggard ETF’s decline.

TD Securities (USA) LLC is the underwriter.

The notes will price on Dec. 21.

The Cusip number is 89114QFL7.

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