Published on 11/22/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.4 million callable contingent interest barrier notes on Nasdaq, Russell, S&P
By Taylor Fox
New York, Nov. 23 – Toronto-Dominion Bank priced $1.4 million of callable contingent interest barrier notes due Nov. 17, 2025 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a quarterly rate of 9.5% if each index closes at or above the 70% contingent interest barrier level on the observation date for that quarter.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par unless any index finishes below the 60% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1,400,000
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| Maturity: | Nov. 17, 2025
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| Coupon: | 9.5%, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call option: | At par on any quarterly observation date
|
| Initial levels: | 1,708.470 for Russell, 3,537.01 for S&P, 11,827.14 for Nasdaq
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| Coupon barrier levels: | 1,195.929 for Russell, 2,475.907 for S&P and 8,278.998 for Nasdaq; 70% of initial levels
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| Barrier levels: | 1,025.082 for Russell, 2,122.206 for S&P and 7,096.284 for Nasdaq; 60% of initial levels
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| Pricing date: | Nov. 12
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| Settlement date: | Nov. 17
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 89114RXG6
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