Published on 8/13/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.45 million callable contingent interest barrier notes on indexes
By Kiku Steinfeld
Chicago, Aug. 15 – Toronto-Dominion Bank priced $1.45 million of callable contingent interest barrier notes due Jan. 19, 2027 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 monthly coupon at an annual rate of 8.37% 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 on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below the 60% 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: | Euro Stoxx 50 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $1.45 million
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| Maturity: | Jan. 19, 2027
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| Coupon: | 8.37% annual rate, payable monthly 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 unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
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| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | 4,315.90 for Stoxx, 15,495.62 for Nasdaq, 2,159.437 for Russell
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| Coupon barrier levels: | 3,021.13 for Stoxx, 10,846.934 for Nasdaq, 1,511.6059 for Russell; 70% of initial levels
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| Barrier levels: | 2,589.54 for Stoxx, 9,297.372 for Nasdaq, 1,295.6622 for Russell; 60% of initial levels
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 89114TYZ9
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