Published on 3/14/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $2.19 million autocallable leveraged barrier notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, March 15 – Toronto-Dominion Bank priced $2.19 million of autocallable leveraged barrier notes due March 2, 2023 linked to the least performing index of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a yearly premium of 20% if each index closes above its initial level on any of three biannual call dates.
If the notes are not called and each index finishes above its initial level, the payout at maturity will be par plus double the gain of the least performing index. If any index finishes flat or falls by up to 30% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the least performing index.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable leveraged barrier notes
|
| Underlying assets: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $2,193,000
|
| Maturity: | March 2, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any gain of least performing index; par if any index finishes flat or falls by up to 30%; otherwise, exposure to decline of least performing index
|
| Call: | At par plus yearly premium of 20% if each index closes above initial level Aug. 26, 2021, Feb. 26, 2022 or Aug. 26, 2022
|
| Initial levels: | 12,909.44 for Nasdaq, 2,201.051 for Russell, 3,811.15 for S&P
|
| Barrier levels: | 9,036.608 for Nasdaq, 1,540.7357 for Russell, 2,667.805 for S&P, 70% of initial levels
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.45%
|
| Cusip: | 89114TBZ4
|
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