Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $590,000 callable contingent interest barrier notes on indexes, ETF
Chicago, Feb. 27 – Toronto-Dominion Bank priced $590,000 of callable contingent interest barrier notes due April 23, 2025 linked to the least performing of the iShares U.S. Real Estate ETF, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.7% if each underlier closes at or above the 70% coupon barrier level on the relevant observation date.
The notes will be callable at par on any monthly observation date after three months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 70% final barrier level.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable contingent interest barrier notes
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| Underlying assets: | iShares U.S. Real Estate ETF, S&P 500 index, Nasdaq-100 index
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| Amount: | $590,000
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| Maturity: | April 23, 2025
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| Coupon: | 9.7% annual rate, payable monthly if each underlier closes at or above contingent interest barrier level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if all underliers finish at or above final barrier; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call option: | At par on any monthly observation date after three months
|
| Initial levels: | $87.94 for ETF, 4,739.21 for S&P, 16,736.28 for Nasdaq
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| Coupon barrier levels: | $61.558 for ETF, 3,317.447 for S&P, 11,715.396 for Nasdaq; 70% of initial levels
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| Barrier levels: | $61.558 for ETF, 3,317.447 for S&P, 11,715.396 for Nasdaq; 70% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 22
|
| Agent: | TD Securities (USA) LLC
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| Fees: | 0.65%
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| Cusip: | 89115FQ53
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