Published on 10/19/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.26 million autocallable barrier notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – Toronto-Dominion Bank priced $1.26 million of 0% autocallable barrier notes due July 31, 2025 linked to the least performing 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 called at par plus a 7.15% annualized call premium if each index closes at or above its initial level on any semiannual observation date after one year.
The payout will be par unless any index finishes below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable barrier notes
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Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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Amount: | $1,255,000
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Maturity: | July 31, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any index finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
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Call: | At par plus 7.15% annualized premium if each index closes at or above its initial level on any semiannual observation date after one year
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Initial levels: | 4,401.46 for S&P, 14,956.97 for Nasdaq, 2,191.833 for Russell
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Barrier levels: | 2,860.949 for S&P, 9,722.0305 for Nasdaq, 1,424.6915 for Russell; 65% of initial levels
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Pricing date: | July 27
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Settlement date: | July 30
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Agent: | TD Securities (USA) LLC
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Fees: | 3.4992%
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Cusip: | 89114TNK4
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