Published on 2/22/2023 in the Prospect News Structured Products Daily.
New Issue: TD sells $8.19 million callable contingent interest buffered notes with downside leverage
By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – Toronto-Dominion Bank priced $8.19 million of callable contingent interest buffered notes with downside leverage due Feb. 20, 2026 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 10% if each index closes at or above the 72% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly interest payment date after six months.
The payout at maturity will be par plus the final coupon unless any index finishes below the 72% buffer level, in which case investors will lose 1.3889% for each 1% decline of the lesser-performing index beyond its 28% buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest buffered notes with downside leverage
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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| Amount: | $8,191,000
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| Maturity: | Feb. 20, 2026
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| Coupon: | 10%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below buffer level, in which case 1.3889% loss for each 1% decline of lesser-performing index beyond 28% buffer
|
| Call option: | At par on any quarterly observation date after six months
|
| Initial levels: | 12,442.48 for Nasdaq, 1,942.212 for Russell
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| Coupon barrier levels: | 8,958.5856 for Nasdaq, 1,398.3926 for Russell; 72% of initial levels
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| Buffer levels: | 8,958.5856 for Nasdaq, 1,398.3926 for Russell; 72% of initial levels
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 22
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.1%
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| Cusip: | 89114YQR5
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