Published on 12/23/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $2.2 million contingent interest barrier autocalls on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Toronto-Dominion Bank priced $2.2 million of autocallable contingent interest barrier notes due Dec. 27, 2022 linked to the lesser-performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at an annual rate of 10.5% if each index closes at or above the barrier level, 70% of the initial level, on the valuation date for that month.
The notes will be called at par if each index closes at or above the level on any monthly valuation date after three months other than the final valuation date.
The payout at maturity will be par unless the lesser performing index finishes below the barrier level, in which case investors will be fully exposed to its decline.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $2.2 million
|
| Maturity: | Dec. 27, 2022
|
| Coupon: | 10.5% per year, payable monthly if each index closes at or above barrier level on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to lesser performing index’s decline
|
| Call: | Automatically at par if each index closes at or above initial level price on any monthly valuation date after three months other than final valuation date
|
| Initial level: | 12,690.26 for Nasdaq, 1,970.329 for Russell
|
| Barrier levels: | 8,883.182 for Nasdaq, 1,379.2303 for Russell, 70% of initial share price
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 24
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.5%
|
| Cusip: | 89114T3Y6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
