Published on 7/18/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.2 million autocallable contingent interest barrier notes on three indexes
By William Gullotti
Buffalo, N.Y., July 18 – Toronto-Dominion Bank priced $1.2 million of autocallable contingent interest barrier notes due July 17, 2025 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 12.25% if each index closes at or above the 70% coupon barrier level on the relevant observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon if each index finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above the 60% barrier level, the payout at maturity 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
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
|
| Amount: | $1.2 million
|
| Maturity: | July 17, 2025
|
| Coupon: | 12.25% annual rate, payable monthly if each index closes at or above coupon barrier level the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above coupon barrier; if worst performer finishes below coupon barrier but not below final barrier, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call: | At par plus coupon if each index closes above initial level on any quarterly observation date
|
| Initial levels: | 11,768.4 for Nasdaq, 1,707.505 for Russell, 3,790.38 for S&P
|
| Coupon barrier levels: | 8,237.88 for Nasdaq, 1,195.2535 for Russell, 2,653.266 for S&P; 70% of initial levels
|
| Barrier levels: | 7,061.04 for Nasdaq, 1,024.503 for Russell, 2,274.228 for S&P; 60% of initial levels
|
| Pricing date: | July 14
|
| Settlement date: | July 19
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 89114Y7A3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
