Published on 7/2/2020 in the Prospect News Structured Products Daily.
New Issue: TD prices $5.15 million contingent interest barrier autocallable on indexes
By Sarah Lizee
Olympia, Wash., July 2 – Toronto-Dominion Bank priced $5.15 million of autocallable contingent interest barrier notes due June 29, 2023 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 7% if each index closes at or above the 60% contingent interest barrier level on the observation date for that month.
The notes will be called at par if each index closes at or above 110% of its initial price on any monthly observation date.
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: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $5.15 million
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| Maturity: | June 29, 2023
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| Coupon: | 7%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that month
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| Price: | Par of $1,000
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| 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
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| Call: | At par if each index closes at or above 110% of initial price on any monthly observation date
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| Initial levels: | 25,745.6 for Dow, 1,413.315 for Russell, 3,083.76 for S&P
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| Call levels: | 28,320.16 for Dow, 1,554.6465 for Russell, 3,392.136 for S&P
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| Interest barrier levels: | 15,447.36 for Dow, 847.989 for Russell, 1,850.256 for S&P; 60% of initial levels
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| Barrier levels: | 15,447.36 for Dow, 847.989 for Russell, 1,850.256 for S&P; 60% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | TD Securities (USA) LLC
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| Fees: | 3.74%
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| Cusip: | 89114RMY9
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