Published on 2/10/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.5 million callable contingent interest buffered notes with downside leverage
By William Gullotti
Buffalo, N.Y., Feb. 10 – Toronto-Dominion Bank priced $1.5 million of callable contingent interest buffered notes with downside leverage due July 22, 2022 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 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 4.78% if each index closes at or above the 75% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any monthly interest payment date after three months.
The payout at maturity will be par plus the final coupon unless any index finishes below the 75% buffer level, in which case investors will lose 1.3333% for each 1% decline of the lesser-performing index beyond its 25% buffer.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Callable contingent interest buffered notes with downside leverage
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Underlying indexes: | S&P 500 index, Nasdaq-100 index and the Russell 2000 index
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Amount: | $1.5 million
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Maturity: | July 22, 2022
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Coupon: | 4.78%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that period
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any index finishes below buffer level, in which case 1.3333% loss for each 1% decline of lesser-performing index beyond 25% buffer
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Call option: | At par on any monthly observation date after three months
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Initial levels: | 4,532.76 for S&P, 15,047.84 for Nasdaq, 2,062.783 for Russell
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Coupon barrier levels: | 3,399.57 for S&P, 11,285.88 for Nasdaq, 1,547.0873 for Russell; 75% of initial levels
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Buffer levels: | 3,399.57 for S&P, 11,285.88 for Nasdaq, 1,547.0873 for Russell; 75% of initial levels
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Pricing date: | Jan. 19
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Settlement date: | Jan. 24
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Agent: | TD Securities (USA) LLC
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Fees: | 0.2%
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Cusip: | 89114TZ62
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