Published on 12/18/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $8.3 million autocallable contingent interest barrier notes on Russell, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 18 – Toronto-Dominion Bank priced $8.3 million of autocallable contingent interest barrier notes due Dec. 14, 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 6.25% if each index closes at or above the 60% 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 call observation date after six months.
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 and Jefferies LLC are the agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $8.3 million
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| Maturity: | Dec. 14, 2023
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| Coupon: | 6.25%, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
|
| Price: | Par
|
| 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: | At par if each index closes above initial level on any quarterly call observation date after six months
|
| Initial levels: | 12,401.74 for Nasdaq, 1,922.703 for Russell, 3,688.1 for S&P
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| Coupon barrier levels: | 7,441.044 for Nasdaq, 1,153.6218 for Russell, 2,200.86 for S&P; 60% of initial levels
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| Barrier levels: | 7,441.044 for Nasdaq, 1,153.6218 for Russell, 2,200.86 for S&P; 60% of initial levels
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| Strike date: | Dec. 10
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 16
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| Agents: | TD Securities (USA) LLC and Jefferies LLC
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| Fees: | 2%
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| Cusip: | 89114T3C4
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