Published on 8/26/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $100,000 callable contingent interest barrier notes on three indexes
By William Gullotti
Buffalo, N.Y., Aug. 26 – Toronto-Dominion Bank priced $100,000 of callable contingent interest barrier notes due Dec. 29, 2023 linked to the least performing of the MSCI Emerging Markets index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.34% if each index closes at or above the 70% contingent interest barrier level on the relevant observation date.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par plus the final coupon 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: | MSCI Emerging Markets index, S&P 500 index, Russell 2000 index
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| Amount: | $100,000
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| Maturity: | Dec. 29, 2023
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| Coupon: | 8.34% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon 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
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| Initial levels: | 1,379.59 for MSCI EM, 4,280.7 for S&P, 2,334.396 for Russell
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| Coupon barrier levels: | 965.713 for MSCI EM, 2,996.49 for S&P, 1,634.0772 for Russell; 70% of initial levels
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| Barrier levels: | 965.713 for MSCI EM, 2,996.49 for S&P, 1,634.0772 for Russell; 70% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 89114TLT7
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