Published on 3/8/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.02 million contingent interest barrier autocallables on three indexes
By William Gullotti
Buffalo, N.Y., March 8 – Toronto-Dominion Bank priced $1.02 million of autocallable contingent interest barrier notes due Dec. 6, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 10.75% if each index closes at or above the 70% coupon barrier level on the relevant observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any monthly call observation date after one year.
The payout at maturity will be par plus the final coupon if each index finishes at or above its 70% barrier 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: | Autocallable contingent interest barrier notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $1,016,000
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| Maturity: | Dec. 6, 2024
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| Coupon: | 10.75% annual rate, payable monthly if each index closes at or above coupon barrier level the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above final barrier; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call: | At par plus coupon if each index closes above initial level on any monthly call observation date after one year
|
| Initial levels: | 12,290.81 for Nasdaq, 1,928.263 for Russell, 4,045.64 for S&P
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| Coupon barrier levels: | 8,603.567 for Nasdaq, 1,349.7841 for Russell, 2,831.948 for S&P; 70% of initial levels
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| Barrier levels: | 8,603.567 for Nasdaq, 1,349.7841 for Russell, 2,831.948 for S&P; 70% of initial levels
|
| Pricing date: | March 3
|
| Settlement date: | March 8
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.7%
|
| Cusip: | 89114YSK8
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