By Sarah Lizee
Olympia, Wash., Jan. 3 – Toronto-Dominion Bank priced $210,000 of autocallable contingent interest barrier notes due Dec. 26, 2024 linked to the least 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 13% if each ETF closes at or above the 65% coupon barrier level on the observation date for that period.
The notes will be called at par plus the coupon if each ETF closes at or above its initial price on any quarterly observation date starting June 23, 2020.
The payout at maturity will be par unless either ETF finishes below the 65% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing ETF.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| 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: | $210,000
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| Maturity: | Dec. 26, 2024
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| Coupon: | 13%, payable quarter if each ETF closes at or above coupon barrier level on observation date for that period
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any ETF finishes below barrier level, in which case 1% loss for each 1% decline of least-performing ETF
|
| Call: | At par plus coupon if each ETF closes at or above initial price on any quarterly observation date starting June 23, 2020
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| Initial levels: | $27.77 for gold ETF and $23.72 for oil ETF
|
| Coupon/barrier levels: | $18.0505 for gold ETF and $15.418 for oil ETF; 65% of initial levels
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| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 27
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| Agent: | TD Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 89114R6B7
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