TD Bank eyes contingent interest barrier autocallables on three stocks

By Sarah Lizee

Olympia, Wash., June 19 – Toronto-Dominion Bank plans to price autocallable contingent interest barrier notes due June 30, 2022 linked to the shares of Amazon.com, Inc., Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 9% per year if each stock closes at or above the barrier price, 55% of the initial share price, on the valuation date for that quarter, plus any previously unpaid coupons.

After six months, the notes will be called at par plus the contingent coupon if the shares of each stock close at or above 100% of the initial share price on any quarterly call observation date.

The payout at maturity will be par unless any stock finishes below the barrier price, 55% of the initial level, in which case investors will be fully exposed to the laggard stock’s decline.

TD Securities (USA) LLC is the underwriter.

The notes will price on June 25.

The Cusip number is 89114QY51.

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