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Published on 12/4/2021 in the Prospect News Structured Products Daily.

New Issue: TD Bank sells $1.53 million contingent interest barrier autocalls on four stocks

Chicago, Dec. 4 – Toronto-Dominion Bank priced $1.53 million of autocallable contingent interest barrier notes due April 4, 2024 linked to the least performing of the common stocks of salesforce.com, Inc., Nvidia Corp. Qualcomm Inc. and Square, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent interest payment at the rate of 18.7% per year if each stock closes at or above the coupon barrier price, 60% of the initial share price, on the observation date for that period.

The notes will be called at par plus the contingent interest payment if each stock closes at or above its initial price on any quarterly observation date.

If the notes are not called, the payout at maturity will be par plus any final contingent interest payment due unless the least performing stock finishes below the barrier price, 60% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline from its initial share price, payable in shares of the worst performer.

TD Securities (USA) LLC is the agent.

Issuer:Toronto-Dominion Bank
Issue:Autocallable contingent interest barrier notes
Underlying stocks:salesforce.com, Inc., Nvidia Corp. Qualcomm Inc. and Square, Inc.
Amount:$1,528,000
Maturity:April 4, 2024
Coupon:18.7% annual rate, payable quarterly if each stock closes at or above coupon barrier level on relevant observation date
Price:Par
Payout at maturity:Par plus any coupon due unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline from its initial share price, payable in shares of worst performer
Call:Automatically at par plus coupon if each stock closes at or above its initial level on any quarterly observation date
Initial share prices:$210.77 for salesforce, $517.93 for Nvidia, $131.27 for Qualcomm, $207.18 for Square
Coupon barrier levels:$126.462 for salesforce, $310.758 for Nvidia, $78.762 for Qualcomm, $124.308 for Square; 60% of initial levels
Barrier levels:$126.462 for salesforce, $310.758 for Nvidia, $78.762 for Qualcomm, $124.308 for Square; 60% of initial levels
Pricing date:March 29
Settlement date:March 31
Agent:TD Securities (USA) LLC
Fees:3.25%
Cusip:891160B93

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