Published on 1/18/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.55 million autocallable contingent interest barrier notes on indexes
By Taylor Fox
New York, Jan. 19 – Toronto-Dominion Bank priced $1.55 million of autocallable contingent interest barrier notes due Jan. 2, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Euro Stoxx 50 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 7.5% if each index closes at or above the 70% 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 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
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $1,550,000
|
| Maturity: | Jan. 2, 2024
|
| Coupon: | 7.5% annual rate, 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 least-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: | 12,653.14 for Nasdaq, 2,007.104 for Russell, 3,539.26 for Stoxx
|
| Coupon barrier levels: | 8,857.198 for Nasdaq, 1,404.9728 for Russell, 2,477.482 for Stoxx; 70% of initial levels
|
| Barrier levels: | 8,857.198 for Nasdaq, 1,404.9728 for Russell, 2,477.482 for Stoxx; 70% of initial levels
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 30
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.45%
|
| Cusip: | 89114T4M1
|
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