Published on 11/9/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1 million callable contingent interest barrier notes on Nasdaq, Russell
By Kiku Steinfeld
Chicago, Nov. 9 – Toronto-Dominion Bank priced $1 million of callable contingent interest barrier notes due March 10, 2023 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 25.2% if each index closes at or above the 90% contingent interest barrier level on the relevant observation date.
The notes will be callable at par on any monthly observation date after six months.
The payout at maturity will be par unless any index finishes below the 90% 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
|
| Issue: | Callable contingent interest barrier notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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| Amount: | $1 million
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| Maturity: | March 10, 2023
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| Coupon: | 25.2% annual rate, payable monthly 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 on any monthly observation date after six months at option of issuer
|
| Initial levels: | 13,319.38 for Nasdaq, 1,951.328 for Russell
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| Coupon barrier levels: | 11,987.442 for Nasdaq, 1,756.1952 for Russell; 90% of initial levels
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| Barrier levels: | 11,987.442 for Nasdaq, 1,756.1952 for Russell; 90% of initial levels
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| Pricing date: | March 10
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| Settlement date: | March 15
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| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.6%
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| Cusip: | 89114V6W2
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