Published on 7/27/2021 in the Prospect News Structured Products Daily.
New Issue: TD prices $10 million review notes linked to indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, July 27 – Toronto-Dominion Bank priced $10 million of 0% review notes due July 24, 2023 linked to the performance of iShares MSCI Emerging Markets ETF, the Russell 2000 index and the S&P 500 index , according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 10.84% per year if each asset closes at or above its initial level on either annual review date.
If the notes are not called and the final level of each asset is greater than or equal to its barrier level, 80% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% that the least-performing asset declines from its initial level.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Review notes
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Russell 2000 index and S&P 500 index
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| Amount: | $2,875,000
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| Maturity: | July 24, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If notes are not called and final level of each asset is greater than or equal to barrier level, par; otherwise, 1% loss for each 1% that least-performing asset declines from initial level
|
| Call: | Automatically at par plus call premium of 10.84% per year if each asset closes at or initial level on either annual review date
|
| Initial levels: | 4,258.49 for S&P, 2,130.68 for Russell, $52.69 for ETF
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| Barrier levels: | 3,406.792 for S&P, 1,704.544 for Russell, $42.152 for ETF; 80% of initial levels
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| Strike date: | July 19
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| Pricing date: | July 20
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| Settlement date: | July 23
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| Agents: | TD Securities (USA) LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
|
| Fees: | 0.45%
|
| Cusip: | 89114TNN8
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