Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $550,000 callable contingent interest barrier notes on three indexes
Chicago, April 23 – Toronto-Dominion Bank priced $550,000 of callable contingent interest barrier notes due Jan. 29, 2027 linked to the least performing of the Russell 2000 index, the Nasdaq-100 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 9.4% if each index closes at or above the 70% coupon barrier level on the relevant observation date.
The notes are callable at par on any monthly interest payment date starting 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: | Callable contingent interest barrier notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $550,000
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| Maturity: | Jan. 29, 2027
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| Coupon: | 9.4% annual rate, payable monthly if each index closes at or above coupon barrier level on the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above its barrier value; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call: | At par on any monthly interest payment date starting after one year
|
| Initial levels: | 17,421.01 for Nasdaq, 1,978.331 for Russell, 4,890.97 for S&P
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| Coupon barrier levels: | 12,194.707 for Nasdaq, 1,384.8317 for Russell, 3,423.679 for S&P; 70% of initial levels
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| Barrier levels: | 12,194.707 for Nasdaq, 1,384.8317 for Russell, 3,423.679 for S&P; 70% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.65%
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| Cusip: | 89115FQJ3
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