TD Bank plans 10% contingent interest autocalls tied to three stocks

By Susanna Moon

Chicago, Sept. 10 – Toronto-Dominion Bank plans to price autocallable contingent interest barrier notes due Sept. 30, 2021 linked to the least performing of the common stocks of Amazon.com Inc., Facebook, Inc. and Nvidia, Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annual rate of 11.1% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless any asset finishes below its 60% trigger level, in which case investors will receive par plus the return of the worst performing asset with full exposure to any losses.

TD Securities (USA) LLC is the underwriter.

The notes will price on Sept. 25.

The Cusip number is 89114QQS0.

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