Published on 5/16/2023 in the Prospect News Structured Products Daily.
New Issue: TD sells $500,000 callable contingent interest barrier notes on S&P, Nasdaq, Russell
Chicago, May 16 – Toronto-Dominion Bank priced $500,000 of callable contingent interest barrier notes due June 21, 2024 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 quarterly coupon at an annual rate of 13.64% if each index closes at or above the 75% contingent interest barrier level on the relevant observation date.
The notes will be callable at par plus any coupon due on any quarterly observation date.
The payout at maturity will be par 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: | Callable contingent interest barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $500,000
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| Maturity: | June 21, 2024
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| Coupon: | 13.64% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above final barrier; otherwise, 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par plus any coupon due on any quarterly observation date
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| Initial levels: | 11,265.99 for Nasdaq, 1,665.694 for Russell, 3,674.84 for S&P
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| Coupon barrier levels: | 8,449.4925 for Nasdaq, 1,249.2705 for Russell, 2,756.13 for S&P; 75% of initial levels
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| Barrier levels: | 7,886.193 for Nasdaq, 1,165.9858 for Russell, 2,572.388 for S&P; 70% of initial levels
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| Pricing date: | June 17, 2022
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| Settlement date: | June 23, 2022
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.8%
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| Cusip: | 89114Y4J7
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