Published on 1/3/2020 in the Prospect News Structured Products Daily.
New Issue: TD prices $1.51 million contingent interest barrier autocallable on indexes
By Sarah Lizee
Olympia, Wash., Jan. 3 – Toronto-Dominion Bank priced $1.51 million of autocallable contingent interest barrier notes due Dec. 27, 2024 linked to the lesser performing of the Nasdaq-100 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.4% if each index closes at or above the 70% contingent interest barrier level on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial price on any quarterly observation date beginning on Dec. 23, 2020.
The payout at maturity will be par plus any coupon unless any index finishes below the 60% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index 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, Russell 2000 and Euro Stoxx 50
|
| Amount: | $1,508,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 6.4%, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus any coupon unless any index finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call: | At par if each index closes at or above initial price on any quarterly observation date starting on Dec. 23, 2020
|
| Initial levels: | 8,696.007 for Nasdaq, 1,674.141 for Russell and 3,776.66 for Stoxx
|
| Contingent interest barrier levels: | 6,087.2049 for Nasdaq, 1,171.8987 for Russell and 2,643.662 for Stoxx; 70% of initial levels
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| Barrier levels: | 5,217.6042 for Nasdaq, 1,004.4846 for Russell and 2,265.996 for Stoxx; 60% of initial levels
|
| Pricing date: | Dec. 23
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| Settlement date: | Dec. 27
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3.75%
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| Cusip: | 89114RA71
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