By Wendy Van Sickle
Columbus, Ohio, Sept. 30 – Toronto-Dominion Bank priced $662,000 of autocallable contingent interest barrier notes due Oct. 2, 2019 linked to the VanEck Vectors Gold Miners 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 barrier, 60% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the fund close 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 barrier level, in which case investors will be fully exposed to any losses.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
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| Underlying fund: | VanEck Vectors Gold Miners ETF
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| Amount: | $662,000
|
| Maturity: | Oct. 2, 2019
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| Coupon: | 11%, payable quarterly if fund closes at or above barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if fund finishes at or above barrier; otherwise, full exposure to loss
|
| Call: | Automatically at par plus contingent coupon if fund closes at or above initial price on a quarterly valuation date
|
| Initial share price: | $26.28
|
| Barrier price: | $15.768, 60% of initial price
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 30
|
| Underwriter: | TD Securities (USA) LLC
|
| Fees: | 2.75%
|
| Cusip: | 89114QXM5
|
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