Published on 7/18/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $2.46 million callable contingent interest buffered notes with downside leverage
By William Gullotti
Buffalo, N.Y., July 18 – Toronto-Dominion Bank priced $2.46 million of callable contingent interest buffered notes with downside leverage due July 17, 2025 linked to the least performing of 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 12.76% if each index closes at or above the 80% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly interest payment date after one year.
The payout at maturity will be par plus the final coupon unless any index finishes below the 80% buffer level, in which case investors will lose 1.25% for each 1% decline of the lesser-performing index beyond its 20% buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest buffered notes with downside leverage
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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| Amount: | $2,457,000
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| Maturity: | July 17, 2025
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| Coupon: | 12.76%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below buffer level, in which case 1.25% loss for each 1% decline of lesser-performing index beyond 20% buffer
|
| Call option: | At par on any quarterly observation date after one year
|
| Initial levels: | 11,744.99 for Nasdaq, 1,728.182 for Russell
|
| Coupon barrier levels: | 9,395.992 for Nasdaq, 1,382.5456 for Russell; 80% of initial levels
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| Buffer levels: | 9,395.992 for Nasdaq, 1,382.5456 for Russell; 80% of initial levels
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| Strike date: | July 12
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| Pricing date: | July 13
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| Settlement date: | July 18
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.1%
|
| Cusip: | 89114Y7B1
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