Published on 3/17/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.11 million step down autocallable barrier notes tied to indexes
Chicago, March 18 – Toronto-Dominion Bank priced $1.11 million of 0% step down autocallable barrier notes due March 4, 2027 linked to the least performing of the S&P 500 index, Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 12.42% annualized call premium if each index closes at or above its initial level on any annual observation date.
If each index finishes at or above 90% of initial level, the notes will be called at maturity for a payout of par plus 37.26%.
If the notes are not called at maturity, the payout will be par unless any index finishes below its 70% barrier level, in which case investors will lose 1% for the 1% decline of the worst performing index from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Step down autocallable barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,106,000
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| Maturity: | March 4, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 90% of initial level, par plus 37.26%; if any index declines by more than 10% but not more than 30%, par; otherwise, full exposure to decline of worst performing index from initial level
|
| Call: | At par plus 12.42% annualized premium if each index closes at or above its initial level on any annual observation date
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| Initial levels: | 18,302.91 for Nasdaq, 2,076.395 for Russell, 5,137.08 for S&P
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| Barrier levels: | 12,812.037 for Nasdaq, 1,453.4765 for Russell, 3,595.956 for S&P; 70% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 6
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 89115FSW2
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