Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $3.43 million market linked contingent autocalls on three indexes
By William Gullotti
Buffalo, N.Y., Dec. 2 – Toronto-Dominion Bank priced $3.43 million of 0% market-linked autocallable securities with contingent downside due May 30, 2025 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent interest payment at the rate of 11.3% per year if each index closes at or above the coupon barrier level, 75% of the initial level, on the observation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its coupon barrier level.
If the worst performer finishes below its coupon barrier but at or above its 65% threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
TD Securities (USA) LLC and Wells Fargo Securities are the agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Market-linked autocallable securities with contingent coupon and contingent downside
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $3,433,000
|
| Maturity: | May 30, 2025
|
| Coupon: | 11.3% annual rate, payable quarterly if all indexes close at or above their coupon barrier levels on the relevant 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 threshold level, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus coupon if each index closes at or above initial levels on any quarterly observation date after six months
|
| Initial level: | 3,957.63 for S&P, 1,836.551 for Russell, 11,503.45 for Nasdaq
|
| Coupon barrier: | 2,968.2225 for S&P, 1,377.41325 for Russell, 8,627.5875 for Nasdaq; 75% of initial levels
|
| Threshold level: | 2,572.4595 for S&P, 1,193.75815 for Russell, 7,477.2425 for Nasdaq; 65% of initial levels
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 2
|
| Agents: | TD Securities (USA) LLC and Wells Fargo Securities
|
| Fees: | 1.825%
|
| Cusip: | 89114YFF3
|
|
|
© 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.
