Published on 1/14/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.05 million callable contingent interest barrier notes on tech stocks
By Kiku Steinfeld
Chicago, Jan. 14 – Toronto-Dominion Bank priced $1.05 million of callable contingent interest barrier notes due Jan. 11, 2024 linked to the common stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 18.25% if each stock closes at or above the 70% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly interest payment date starting after six months.
The payout at maturity will be par unless any stock finishes below the 70% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing stock from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying stocks: | $462.25 for Apple, $3,312.49 for Amazon, $1,558.60 for Alphabet, $491.87 for Netflix
|
| Amount: | $1,050,000
|
| Maturity: | Jan. 11, 2024
|
| Coupon: | 18.25%, payable quarterly if each stock closes at or above contingent interest barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing stock from initial level
|
| Call option: | At par on any quarterly observation date after six months
|
| Initial levels: | $132.05 for Apple, $3,182.70 for Amazon, $1,797.83 for Alphabet, $510.40 for Netflix
|
| Coupon barrier levels: | $92.435 for Apple, $2,227.89 for Amazon, $1,258.481 for Alphabet, $357.28 for Netflix; 70% of initial levels
|
| Barrier levels: | $92.435 for Apple, $2,227.89 for Amazon, $1,258.481 for Alphabet, $357.28 for Netflix; 70% of initial levels
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 13
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.9619%
|
| Cusip: | 89114T4U3
|
|
|
© 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.
