TD plans 14%-15% contingent rate autocalls on gold miners, oil funds

By Susanna Moon

Chicago, Sept. 19 – Toronto-Dominion Bank plans to price autocallable contingent interest barrier notes due March 27, 2020 linked to the lesser performing of 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.

The notes will pay a contingent quarterly coupon at an annual rate of 14% to 15% if each fund closes at or above its 80% coupon barrier on the review date for that quarter.

The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any quarterly valuation date.

The payout at maturity will be par unless either underlying fund finishes below 80% trigger level, in which case investors will be fully exposed to any losses of the worse performing fund.

TD Securities (USA) LLC is the underwriter.

The notes will price on Sept. 25.

The Cusip number is 89114QRA8.

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