Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $850,000 callable contingent interest barrier notes on three indexes
Chicago, April 15 – Toronto-Dominion Bank priced $850,000 of callable contingent interest barrier notes due July 23, 2025 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 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 10.05% if each index closes at or above the 70% coupon barrier level on the relevant observation date.
The notes are callable at par on any monthly interest payment date starting after three months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its 70% 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
|
Issue: | Callable contingent interest barrier notes
|
Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
|
Amount: | $850,000
|
Maturity: | July 23, 2025
|
Coupon: | 10.05% annual rate, payable monthly if each index closes at or above coupon barrier level on the corresponding observation date
|
Price: | Par
|
Payout at maturity: | Par plus final coupon if each index finishes at or above its barrier value; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
Call: | At par on any monthly interest payment date starting after three months
|
Initial levels: | 16,982.29 for Nasdaq, 1,923.653 for Russell, 4,780.94 for S&P
|
Coupon barrier levels: | 11,887.603 for Nasdaq, 1,346.5571 for Russell, 3,346.658 for S&P; 70% of initial levels
|
Barrier levels: | 11,887.603 for Nasdaq, 1,346.5571 for Russell, 3,346.658 for S&P; 70% of initial levels
|
Pricing date: | Jan. 18
|
Settlement date: | Jan. 23
|
Agent: | TD Securities (USA) LLC
|
Fees: | 0.4%
|
Cusip: | 89115FQ95
|
|
© 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.