Published on 2/24/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $504,000 callable contingent interest barrier notes on three indexes
Chicago, Feb. 24 – Toronto-Dominion Bank priced $504,000 of callable contingent interest barrier notes with memory interest due May 7, 2026 linked to the least performing of the S&P 500 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 12.08% if each index closes at or above the 80% contingent interest barrier level on the relevant observation date. Previously unpaid coupons will also be paid.
The notes will be callable at par plus any coupon due on any quarterly call observation date.
The payout at maturity will be par if each index finishes at or above the 60% threshold level. Otherwise, investors will lose 1% for each 1% decline of the worst performer 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 with memory interest
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $504,000
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| Maturity: | May 7, 2026
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| Coupon: | 12.08% annual rate, payable monthly if each index closes at or above contingent interest barrier level on the corresponding observation date; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above threshold level; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call option: | At par plus any coupon due on any quarterly call observation date
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| Initial levels: | 4,175.48 for S&P, 13,089.90 for Nasdaq, 1,898.857 for Russell
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| Coupon barrier levels: | 3,340.384 for S&P, 10,471.92 for Nasdaq, 1,519.0856 for Russell; 80% of initial levels
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| Threshold levels: | 2,505.288 for S&P, 7,853.94 for Nasdaq, 1,139.3142 for Russell; 60% of initial levels
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| Pricing date: | May 3, 2022
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| Settlement date: | May 6, 2022
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.25%
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| Cusip: | 89114VE29
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