Published on 4/16/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.84 million callable contingent interest barrier notes on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, April 16 – Toronto-Dominion Bank priced $1.84 million of callable contingent interest barrier notes due April 4, 2024 linked to the least performing of the Nasdaq-100 index and the Russell 2000 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 8.2607% if each index closes at or above the 70% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly call observation date after six months.
The payout at maturity will be par unless any index finishes below the 60% 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: | Nasdaq-100 index, Russell 2000 index
|
| Amount: | $1,842,000
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| Maturity: | April 4, 2024
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| Coupon: | 8.2607%, 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 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 on any quarterly call observation date after six months
|
| Initial levels: | 13,091.44 for Nasdaq, 2,220.519 for Russell
|
| Coupon barrier levels: | 9,164.008 for Nasdaq, 1,554.3633 for Russell; 70% of initial levels
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| Barrier levels: | 7,854.864 for Nasdaq, 1,332.3114 for Russell; 60% of initial levels
|
| Pricing date: | March 31
|
| Settlement date: | April 6
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.4831%
|
| Cusip: | 89114TES7
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