Published on 2/15/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.25 million contingent interest buffered autocallables on indexes
By Kiku Steinfeld
Chicago, Feb. 16 – Toronto-Dominion Bank priced $1.25 million of autocallable contingent interest buffered notes due Aug. 8, 2022 linked to the lesser performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 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 7.74% if each index closes at or above its interest barrier value, 80% of its initial level, on the valuation date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly valuation date after six months.
The payout at maturity will be par unless either index finishes below its buffer value, 80% of its initial level, in which case investors will be exposed to the decline of the lesser-performing index beyond 20%.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest buffered notes
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| Underlying indexes: | Russell 2000, Nasdaq-100 and S&P 500
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| Amount: | $1.25 million
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| Maturity: | Aug. 8, 2022
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| Coupon: | 7.74% per year, payable monthly if indexes close at or above interest barrier values on valuation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below barrier value, in which case exposure to lesser-performing index’s decline beyond buffer
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| Call: | Automatically at par if each index closes at or above initial level on any quarterly valuation date after six months
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| Initial index levels: | 3,830.17 for S&P, 13,402.37 for Nasdaq, 2,159.703 for Russell
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| Interest barrier/buffers: | 3,064.136 for S&P, 10,721.896 for Nasdaq, 1,727.7624 for Russell; 80% of initial levels
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 8
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.85%
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| Cusip: | 89114T7G1
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