Published on 5/11/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.5 million autocallable barrier notes on Nasdaq, Russell, S&P
By William Gullotti
Buffalo, N.Y., May 11 – Toronto-Dominion Bank priced $1.5 million of 0% autocallable barrier notes due May 11, 2027 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 11.006% 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 70% 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: | $1,502,000
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Maturity: | May 11, 2027
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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 11.006% 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: | 4,123.34 for S&P, 12,693.54 for Nasdaq, 1,839.565 for Russell
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Barrier levels: | 2,474.004 for S&P, 7,616.124 for Nasdaq, 1,103.739 for Russell; 70% of initial levels
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Pricing date: | May 6
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Settlement date: | May 11
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Agent: | TD Securities (USA) LLC
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Fees: | 3.5%
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Cusip: | 89114Y2G5
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