Published on 12/24/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $1 million callable contingent interest buffered notes on Russell, Nasdaq, Dow
By Taylor Fox
New York, Dec. 24 – Toronto-Dominion Bank priced $1 million of callable contingent interest buffered notes with downside leverage due Dec. 7, 2023 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 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 9.39% if each index closes at or above the 80% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly interest payment date after six months.
The payout at maturity will be par unless any index finishes below the 80% buffer level, in which case investors will lose 1.25% for each 1% decline of the lesser-performing index beyond its 20% buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest buffered notes with downside leverage
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and the Russell 2000 index
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| Amount: | $1 million
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| Maturity: | Dec. 7, 2023
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| Coupon: | 9.39%, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below buffer level, in which case 1.25% loss for each 1% decline of lesser-performing index beyond 20% buffer
|
| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | 30,218.26 for Dow, 12,528.48 for Nasdaq and 1,892.449 for Russell
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| Coupon barrier levels: | 24,174.608 for Dow, 10,022.784 for Nasdaq and 1,513.9592 for Russell; 80% of initial levels
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| Buffer levels: | 24,174.608 for Dow, 10,022.784 for Nasdaq and 1,513.9592 for Russell; 80% of initial levels
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 9
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.35%
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| Cusip: | 89114RZW9
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