Published on 6/22/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $546,000 callable contingent interest barrier notes on Nasdaq, Russell, MSCI EM
By Wendy Van Sickle
Columbus, Ohio, June 22 – Toronto-Dominion Bank priced $546,000 of callable contingent interest barrier notes due June 19, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the MSCI Emerging Markets 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 8.76% if each index closes at or above the 75% contingent interest barrier level on the observation date for that quarter.
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 75% 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: | Callable contingent interest barrier notes
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index and MSCI Emerging Markets index
|
Amount: | $546,000
|
Maturity: | June 19, 2024
|
Coupon: | 8.76% 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 option: | At par on any quarterly observation date
|
Initial levels: | 14,128.2 for Nasdaq, 2,326.145 for Russell, 1,383.19 for MSCI EM
|
Coupon barrier levels: | 10,596.15 for Nasdaq, 1,744.6088 for Russell, 1,037.3925 for MSCI EM; 75% of initial levels
|
Barrier levels: | 10,596.15 for Nasdaq, 1,744.6088 for Russell, 1,037.3925 for MSCI EM; 75% of initial levels
|
Pricing date: | June 14
|
Settlement date: | June 17
|
Agent: | TD Securities (USA) LLC
|
Fees: | 1.753%
|
Cusip: | 89114TL91
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.