TD Bank to price contingent interest barrier autocallables on gold ETF

By Marisa Wong

Morgantown, W.Va., Sept. 22 – Toronto-Dominion Bank plans to price autocallable contingent interest barrier notes due Sept. 30, 2021 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at an annual rate of 7% to 7.25% if the ETF closes at or above the barrier price, 70% of the initial share price, on the valuation date for that quarter.

The notes will be called at par if the ETF closes at or above the initial share price on any valuation date other than the final valuation date.

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

TD Securities (USA) LLC is the underwriter.

The notes will price on Sept. 25.

The Cusip number is 89114QJS8.

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