Published on 2/3/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $4.3 million 9% autocallable fixed-interest barrier notes on stocks
By Sarah Lizee
Olympia, Wash., Feb. 3 – Toronto-Dominion Bank priced $4.3 million of 9% autocallable fixed interest barrier notes due Feb. 1, 2022 linked to common stocks of American Airlines Group, Inc., Delta Air Lines, Inc., JetBlue Airways Corp. and United Continental Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any monthly call observation date, starting July 28.
The payout at maturity will be par unless any stock finishes below its barrier level, 57% of its initial level, in which case investors will be fully exposed to the laggard stock’s decline.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable fixed interest barrier notes
|
| Underlying stocks: | American Airlines Group, Inc., Delta Air Lines, Inc., JetBlue Airways Corp. and United Continental Holdings, Inc.
|
| Amount: | $4.3 million
|
| Maturity: | Feb. 1, 2022
|
| Coupon: | 9%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its barrier level, in which case investors will be fully exposed to the laggard stock’s decline
|
| Call: | Automatically at par if each stock closes at or above its initial level on any monthly call observation date, starting July 28
|
| Initial levels: | $26.90 for American Airlines, $57.48 for Delta, $20.27 for JetBlue, $77.05 for United
|
| Barrier levels: | $15.333 for American Airlines, $32.7636 for Delta, $11.5539 for JetBlue, $43.9185 for United, 57% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.83%
|
| Cusip: | 891160SD6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
