Published on 2/17/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $2.1 million callable coupon barrier notes on S&P, Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., Feb. 17 – Toronto-Dominion Bank priced $2.1 million of callable coupon barrier notes due Feb. 21, 2024 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 pay a contingent quarterly coupon at an annual rate of 15.8% if each index closes at or above the 75% coupon barrier level on the relevant observation date.
The notes will be callable at par plus any coupon due on any quarterly observation date.
The payout at maturity will be par plus the final coupon if each index finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above the 70% barrier level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable coupon barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $2.1 million
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| Maturity: | Feb. 21, 2024
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| Coupon: | 15.8% annual rate, payable quarterly if each index closes at or above coupon barrier level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above coupon barrier; if worst performer finishes below coupon barrier but not below barrier level, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call option: | At par plus any coupon due on any quarterly observation date
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| Initial levels: | 4,401.67 for S&P, 14,268.59 for Nasdaq, 2,020.787 for Russell
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| Coupon barrier levels: | 3,301.2525 for S&P, 10,701.4425 for Nasdaq, 1,515.5903 for Russell; 75% of initial levels
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| Barrier levels: | 3,081.169 for S&P, 9,988.013 for Nasdaq, 1,414.5509 for Russell; 70% of initial levels
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| Strike date: | Feb. 14
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 18
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.1%
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| Cusip: | 89114V4G9
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