Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.46 million callable contingent interest barrier notes on Dow, Nasdaq, Russell
Chicago, May 17 – Toronto-Dominion Bank priced $1.46 million of callable contingent interest barrier notes due Oct. 25, 2024 linked to the least performing of the Dow Jones industrial average, 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 quarterly coupon at an annual rate of 8.94% 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 quarterly observation date.
If the worst performer finishes above the 70% barrier level, the payout 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
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Issue: | Callable contingent interest barrier notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index, Russell 2000 index
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Amount: | $1,464,000
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Maturity: | Oct. 25, 2024
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Coupon: | 8.94% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on the corresponding observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon if each index finishes at or above barrier level; otherwise, 1% loss for each 1% decline of worst performer from initial level
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Call option: | At par plus any coupon due on any quarterly observation date
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Initial levels: | 35,677.02 for Dow, 15,355.07 for Nasdaq, 2,291.266 for Russell
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Coupon barrier levels: | 24,973.914 for Dow, 10,748.549 for Nasdaq, 1,603.8862 for Russell; 70% of initial levels
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Barrier levels: | 24,973.914 for Dow, 10,748.549 for Nasdaq, 1,603.8862 for Russell; 70% of initial levels
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Pricing date: | Oct. 22, 2021
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Settlement date: | Oct. 27, 2021
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Agent: | TD Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 89114TTR3
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