Published on 6/23/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $511,000 autocallable contingent interest barrier notes on indexes, ETF
By Kiku Steinfeld
Chicago, June 23 – Toronto-Dominion Bank priced $511,000 of autocallable contingent interest barrier notes due Feb. 6, 2024 linked to the least performing of the iShares Russell 2000 Value ETF, 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 underlier closes at or above the 70% contingent interest barrier level on the relevant observation date.
The notes will be called at par plus the coupon if each underlier closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 70% barrier level, the payout will be par. 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 assets: | iShares Russell 2000 Value ETF, Nasdaq-100 index, Russell 2000 index
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| Amount: | $511,000
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| Maturity: | Feb. 6, 2024
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| Coupon: | 10% annual rate, payable monthly if each underlier 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 plus the final coupon if each underlier finishes at or above its 70% barrier level; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | At par plus coupon if each underlier closes above initial level on any quarterly call observation date
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| Initial levels: | $153.88 for ETF, 12,363.10 for Nasdaq, 1,960.814 for Russell
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| Contingent interest barrier levels: | $107.716 for ETF, 8,654.17 for Nasdaq, 1,372.5698 for Russell; 70% of initial levels
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| Barrier levels: | $107.716 for ETF, 8,654.17 for Nasdaq, 1,372.5698 for Russell; 70% of initial levels
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| Pricing date: | Feb. 1, 2023
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| Settlement date: | Feb. 6, 2023
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.6%
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| Cusip: | 89114YN98
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