Published on 12/28/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $475,000 callable contingent interest barrier notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Dec. 30 – Toronto-Dominion Bank priced $475,000 of callable contingent interest barrier notes due June 3, 2022 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 month, the notes will pay a contingent coupon at a monthly rate of 6.18% if each index closes at or above the 70% contingent interest barrier level on the observation date for that month.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par unless any index finishes below the 70% 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: | Callable contingent interest barrier notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $475,000
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Maturity: | June 3, 2022
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Coupon: | 6.18%, 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
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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
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Call option: | At par on any quarterly observation date
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Initial levels: | 3,621.63 for S&P, 1,819.816 for Russell, 12,268.32 Nasdaq
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Coupon barrier levels: | 2,535.141 for S&P, 1,273.8712 for Russell, 8,587.824 for Nasdaq; 70% of initial levels
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Barrier levels: | 2,535.141 for S&P, 1,273.8712 for Russell, 8,587.824 for Nasdaq; 70% of initial levels
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Pricing date: | Nov. 30
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Settlement date: | Dec. 4
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Agent: | TD Securities (USA) LLC
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Fees: | 4%
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Cusip: | 89114RX84
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