Published on 12/24/2020 in the Prospect News Structured Products Daily.
New Issue: TD prices $1.18 million callable contingent interest barrier notes on Dow, Russell, S&P
By Taylor Fox
New York, Dec. 24 – Toronto-Dominion Bank priced $1.18 million of callable contingent interest barrier notes due June 13, 2022 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 8.44% if each index closes at or above the 70% contingent interest barrier level on the observation date for that period.
The notes are callable at par plus any contingent interest payment due on any quarterly observation date after six months.
The payout at maturity will be par plus any coupon due unless any index finishes below the 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
|
| Amount: | $1,175,000
|
| Maturity: | June 13, 2022
|
| Coupon: | 8.44% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due 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 plus any contingent coupon due on any quarterly observation date after six months
|
| Initial levels: | 30,069.79 for Dow, 1,891.252 for Russell, 3,691.96 for S&P
|
| Contingent interest barriers: | 21,048.853 for Dow, 1,323.8764 for Russell, 2,584.372 for S&P; 70% of initial levels
|
| Final Barrier levels: | 21,048.853 for Dow, 1,323.8764 for Russell, 2,584.372 for S&P; 70% of initial levels
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 11
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.35%
|
| Cusip: | 89114T2N1
|
© 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.
