Published on 11/9/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.88 million autocallable contingent interest barrier notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Nov. 9 – Toronto-Dominion Bank priced $1.88 million of autocallable contingent interest barrier notes due Aug. 2, 2024 linked to the least performing of the ARK Innovation ETF, the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each underlier closes at or above the 75% contingent interest barrier level on the relevant observation date.
The notes will be called at par plus the coupon if each underlier closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the final coupon unless any underlier finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying assets: | ARK Innovation ETF, Nasdaq-100 index, S&P 500 index, Russell 2000 index
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| Amount: | $1,877,000
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| Maturity: | Aug. 2, 2024
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| Coupon: | 8% annual rate, payable monthly if each underlier closes at or above contingent interest barrier level on the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any underlier finishes below barrier level, in which case 1% loss for each 1% decline of worst performer from initial level
|
| Call: | At par plus coupon if each underlier closes above initial level on any quarterly call observation date
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| Initial levels: | $120.00 for ETF, 14,959.9 for Nasdaq, 2,226.246 for Russell, 4,395.26 for S&P
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| Coupon barrier levels: | $90.00 for ETF, 11,219.925 for Nasdaq, 1,669.6845 for Russell, 3,296.445 for S&P; 75% of initial levels
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| Barrier levels: | $90.00 for ETF, 11,219.925 for Nasdaq, 1,669.6845 for Russell, 3,296.445 for S&P; 75% of initial levels
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 4
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| Agent: | TD Securities (USA) LLC
|
| Fees: | 3.8934%
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| Cusip: | 89114TNX6
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