Published on 5/13/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $27,000 autocallable contingent interest barrier notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, May 13 – Toronto-Dominion Bank priced $27,000 of autocallable contingent interest barrier notes due May 2, 2023 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 an annual rate of 8.6% if each index closes at or above the 75% contingent interest barrier level on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below the 75% 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
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Issue: | Autocallable 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: | $27,000
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Maturity: | May 2, 2023
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Coupon: | 8.6% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
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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 least-performing index from initial level
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Call: | At par if each index closes at or above its initial level on any quarterly observation date after six months
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Initial levels: | 13,960.28 for Nasdaq, 2,301.267 for Russell, 4,186.72 for S&P
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Coupon barrier levels: | 10,470.21 for Nasdaq, 1,725.9503 for Russell, 3,140.04 for S&P; 75% of initial levels
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Barrier levels: | 10,470.21 for Nasdaq, 1,725.9503 for Russell, 3,140.04 for S&P; 75% of initial levels
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Pricing date: | April 27
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Settlement date: | April 30
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Agent: | TD Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 89114TEN8
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