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TD Bank plans contingent interest autocallables on SPDR S&P Biotech
By Susanna Moon
Chicago, Dec. 13 – Toronto-Dominion Bank plans to price autocallable contingent interest barrier notes due Jan. 2, 2019 linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if the fund closes at or above the 70% coupon barrier on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above the initial share price on any valuation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the fund finishes below the 70% barrier level, in which case investors will be fully exposed to any losses.
TD Securities (USA) LLC is the underwriter.
The notes will price on Dec. 27 and settle on Dec. 30.
The Cusip number is 89114QYV4.
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