Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $5.26 million market-linked autocalls with contingent downside on indexes
By William Gullotti
Buffalo, N.Y., April 4 – Toronto-Dominion Bank priced $5.26 million of 0% market-linked autocallable securities with contingent downside due April 7, 2025 linked to the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized 14.7% call premium if each index closes at or above its initial level on any annual observation date including the final.
The payout at maturity will be par unless any index falls by more than 25%, in which case investors will be fully exposed to the decline of the worst performer from its initial level.
TD Securities (USA) LLC and Wells Fargo Securities are the agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Market-linked autocallable securities with contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $5,261,000
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| Maturity: | April 7, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 25% in which case full exposure to decline of worst performer
|
| Call: | Automatically at par plus an annualized 14.7% call premium if each index closes at or above initial level on any annual observation date including the final
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| Initial level: | 34,678.35 for Dow, 2,070.125 for Russell, 14,838.49 for Nasdaq
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| Threshold level: | 26,008.7625 for Dow, 1,552.59375 for Russell, 11,128.8675 for Nasdaq; 75% of initial level
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agents: | TD Securities (USA) LLC and Wells Fargo Securities
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| Fees: | 2.425%
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| Cusip: | 89114V5M5
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