Published on 6/24/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $600,000 callable contingent interest barrier notes on Stoxx, Nasdaq, Russell
By Kiku Steinfeld
Chicago, June 24 – Toronto-Dominion Bank priced $600,000 of callable contingent interest barrier notes due Dec. 13, 2024 linked to the least performing of the Euro Stoxx 50 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 quarterly coupon at an annual rate of 13.42% 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 call observation date.
The payout at maturity will be par unless any index finishes below the 70% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index 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: | Nasdaq-100 index, Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $600,000
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| Maturity: | Dec. 13, 2024
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| Coupon: | 13.42% annual rate, payable quarterly 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 unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par plus any coupon due on any quarterly call observation date
|
| Initial levels: | 16,331.98 for Nasdaq, 2,211.806 for Russell, 4,199.16 for Stoxx
|
| Coupon barrier levels: | 11,432.386 for Nasdaq, 1,548.2642 for Russell, 2,939.412 for Stoxx, 70% of initial levels
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| Barrier levels: | 11,432.386 for Nasdaq, 1,548.2642 for Russell, 2,939.412 for Stoxx, 70% of initial levels
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| Pricing date: | Dec. 10, 2021
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| Settlement date: | Dec. 15, 2021
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.5%
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| Cusip: | 89114TX31
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