Published on 5/5/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $703,000 callable contingent interest barrier notes on S&P, Nasdaq, Russell
By Kiku Steinfeld
Chicago, May 5 – Toronto-Dominion Bank priced $703,000 of callable contingent interest barrier notes due Oct. 3, 2024 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 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 9.7974% if each index closes at or above the 75% contingent interest barrier level on the relevant observation date.
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 70% 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: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $703,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 9.7974% annual rate, payable monthly if each index 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 unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par on any quarterly observation date
|
| Initial levels: | 4,307.54 for S&P, 14,689.62 for Nasdaq, 2,204.372 for Russell
|
| Coupon barrier levels: | 3,230.655 for S&P, 11,017.215 for Nasdaq, 1,653.279 for Russell; 75% of initial levels
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| Barrier levels: | 3,015.278 for S&P, 10,282.734 for Nasdaq, 1,543.0604 for Russell; 70% of initial levels
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| Pricing date: | Sept. 30, 2021
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| Settlement date: | Oct. 5, 2021
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.6%
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| Cusip: | 89114TRT1
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