Published on 3/31/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.15 million callable contingent interest barrier notes on S&P, Nasdaq, Russell
Chicago, March 31 – Toronto-Dominion Bank priced $1.15 million of callable contingent interest barrier notes due March 28, 2024 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 12.65% 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 plus any coupon due on any monthly observation date after three months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its contingent interest barrier.
If the worst performer finishes below the contingent interest barrier but at or above the 70% barrier level, the payout at maturity will be par. Otherwise, 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: | Callable contingent interest barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $1,150,000
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| Maturity: | March 28, 2024
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| Coupon: | 12.65% annual rate, payable monthly if each index 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 if each index finishes at or above final barrier, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call option: | At par plus any coupon due on any monthly observation date after three months
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| Initial levels: | 4,543.06 for S&P, 14,754.31 for Nasdaq, 2,077.983 for Russell
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| Coupon barrier levels: | 3,180.142 for S&P, 10,328.017 for Nasdaq, 1,454.5881 for Russell; 70% of initial levels
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| Barrier levels: | 3,180.142 for S&P, 10,328.017 for Nasdaq, 1,454.5881 for Russell; 70% of initial levels
|
| Pricing date: | March 25
|
| Settlement date: | March 30
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| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.57%
|
| Cusip: | 89114VB22
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