Published on 3/30/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $975,000 contingent interest barrier autocallables on four stocks
By Kiku Steinfeld
Chicago, March 30 – Toronto-Dominion Bank priced $975,000 of autocallable contingent interest barrier notes due March 13, 2024 linked to the least performing of the common stocks of Facebook, Inc., Amazon.com, Inc., Visa Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 10.85% if each stock closes at or above its interest barrier value, 60% of its initial share price, on the valuation date for that period.
The notes will be called at par if each stock closes at or above its initial share price on any quarterly call observation date.
The payout at maturity will be par unless any stock finishes below its barrier value, 50% of its initial value, in which case investors will be fully exposed to the decline of the least-performing stock.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stocks: | Facebook, Inc., Amazon.com, Inc., Visa Inc. and Netflix, Inc.
|
| Amount: | $975,000
|
| Maturity: | March 13, 2024
|
| Coupon: | 10.85% per year, payable quarterly if stocks close at or above interest barrier values on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier value, in which case full exposure to least-performing stock’s decline
|
| Call: | Automatically at par if each stock closes at or above its initial share price on any quarterly call observation date
|
| Initial share prices: | $3,000.46 for Amazon.com, $264.28 for Facebook, $516.39 for Netflix and $215.41 for Visa
|
| Interest barrier values: | $1,800.276 for Amazon.com, $158.568 for Facebook, $309.834 for Netflix and $129.246 for Visa; 60% of initial levels
|
| Barrier values: | $1,500.23 for Amazon.com, $132.14 for Facebook, $258.195 for Netflix and $107.705 for Visa; 50% of initial levels
|
| Pricing date: | March 8
|
| Settlement date: | March 11
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 89114TDH2
|
|
|
© 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.
