Published on 12/1/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $505,000 contingent interest barrier autocalls on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 1 – Toronto-Dominion Bank priced $505,000 of autocallable contingent interest barrier notes due Feb. 25, 2022 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 7.53% if each index closes at or above the 70% contingent interest barrier level on the observation date for that month.
The notes will be called at par if each index closes at or above its initial price on any monthly observation date.
The payout at maturity will be par plus any coupon 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
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $505,000
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| Maturity: | Feb. 25, 2022
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| Coupon: | 7.53%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that month
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus any coupon unless any index finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call: | At par if each index closes at or above initial price on any monthly observation date
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| Initial levels: | 3,557.54 for S&P, 1,785.341 for Russell, 11,906.44 Nasdaq
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| Interest barrier levels: | 2,490.278 for S&P, 1,249.7387 for Russell, 8,334.508 for Nasdaq; 70% of initial levels
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| Barrier levels: | 2,134.524 for S&P, 1,071.2046 for Russell, 7,143.864 for Nasdaq; 60% of initial levels
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 25
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.5%
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| Cusip: | 89114RYN0
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