By Wendy Van Sickle
Columbus, Ohio, Aug. 21 – Toronto-Dominion Bank priced $700,000 of autocallable contingent interest barrier notes due Feb. 20, 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 12% per year if each ETF closes at or above the barrier price, 75% 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 after six months.
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.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $700,000
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| Maturity: | Feb. 20, 2020
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 12% per year if all shares close at or above barrier price on valuation date
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either ETF finishes below barrier price, in which case full exposure to laggard ETF’s decline
|
| Call: | Automatically at par plus contingent coupon if shares of each ETF close at or above initial share price on any quarterly call observation date after six months
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| Initial share prices: | $18.60 for Gold Miners, $39.10 for Oil & Gas
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| Barrier prices: | $13.95 for Gold Miners, $29.33 for Oil & Gas, 75% of initial share prices
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 20
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 89114QQG6
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