Published on 7/19/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $982,000 contingent market-linked autocalls on indexes
By Kiku Steinfeld
Chicago, July 19 – Toronto-Dominion Bank priced $982,000 of 0% market-linked securities - autocallable with contingent coupon and contingent downside due Dec. 30, 2025 linked to the Dow Jones industrial average, 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 quarterly coupon at an annual rate of 7.9% if each index closes at or above its 80% coupon threshold on the observation date for that period.
The notes will be automatically called at if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any index falls by more than 20%, in which case investors will be fully exposed to the decline of the worst performer from its initial level.
TD Securities (USA) LLC and Wells Fargo Securities are the agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Market-linked securities - autocallable with contingent coupon and contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $982,000
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| Maturity: | Dec. 30, 2025
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| Coupon: | 7.9% annualized, payable quarterly if each index closes at or above coupon threshold on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 20%, in which case full exposure to decline of worst performer
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date after six months
|
| Initial levels: | 36,488.63 for Dow, 2,249.244 for Russell, 4,793.06 for S&P
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| Threshold levels: | 29,190.904 for Dow, 1,799.3952 for Russell, 3,834.448 for S&P; 80% of initial levels
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 3
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| Agents: | TD Securities (USA) LLC and Wells Fargo Securities
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| Fees: | 2.175%
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| Cusip: | 89114TW24
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