Published on 4/6/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $600,000 callable contingent interest barrier notes on three indexes
Kiku Steinfeld
Chicago, April 6 – Toronto-Dominion Bank priced $600,000 of callable contingent interest barrier notes due Sept. 26, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 7.7% if each index closes at or above the 60% coupon barrier level on the relevant observation date.
The notes may be called at par on any quarterly call observation date.
The payout at maturity will be par if each index finishes at or above the 60% barrier level. 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 contingent interest barrier notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $600,000
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Maturity: | Sept. 26, 2024
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Coupon: | 7.7% 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 if each index finishes at or above final barrier; otherwise, 1% loss for each 1% decline of worst performer from initial level
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Call option: | At par on any quarterly call observation date
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Initial levels: | 15,316.58 for Nasdaq, 2,259.041 for Russell, 4,448.98 for S&P
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Coupon barrier levels: | 9,189.948 for Nasdaq, 1,355.4246 for Russell, 2,669.388 for S&P; 60% of initial levels
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Final barrier levels: | 9,189.948 for Nasdaq, 1,355.4246 for Russell, 2,669.388 for S&P; 60% of initial levels
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Pricing date: | Sept. 23, 2021
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Settlement date: | Sept. 28, 2021
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Agent: | TD Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 89114TSA1
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