Published on 4/6/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1 million callable contingent interest barrier notes on three indexes
Kiku Steinfeld
Chicago, April 6 – Toronto-Dominion Bank priced $1 million of callable contingent interest barrier notes due Sept. 29, 2026 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.15% if each index closes at or above the 70% coupon barrier level on the relevant observation date.
The notes may be called at par on any quarterly call observation date.
The payout at maturity will be par if each index finishes at or above the 70% barrier level. 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
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| Issue: | Callable contingent interest barrier notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $1 million
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| Maturity: | Sept. 29, 2026
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| Coupon: | 7.15% annual rate, payable quarterly if each index closes at or above coupon barrier level the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above final barrier; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call option: | At par on any quarterly call observation date
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| Initial levels: | 4,455.48 for S&P, 2,248.075 for Russell, 34,798.00 for Dow
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| Coupon barrier levels: | 3,118.836 for S&P, 1,573.6525 for Russell, 24,358.60 for Dow; 70% of initial levels
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| Final barrier levels: | 3,118.836 for S&P, 1,573.6525 for Russell, 24,358.60 for Dow; 70% of initial levels
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| Pricing date: | Sept. 24, 2021
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| Settlement date: | Sept. 29, 2021
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 89114TS78
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