Published on 5/11/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $10.35 million callable contingent interest barrier notes on S&P, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, May 11 – Toronto-Dominion Bank priced $10.35 million of callable contingent interest barrier notes due May 9, 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 10.3% if each index closes at or above the 60% contingent interest 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 contingent interest barrier.
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: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $10.35 million
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| Maturity: | May 9, 2024
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| Coupon: | 10.3% annual rate, payable quarterly if each index closes at or above contingent interest 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; otherwise, 1% loss for each 1% decline of least-performing index 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: | 4,146.87 for S&P, 12,850.6 for Nasdaq, 1,871.148 for Russell
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| Coupon barrier levels: | 2,488.122 for S&P, 7,710.33 for Nasdaq, 1,122.6888 for Russell; 60% of initial levels
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| Barrier levels: | 2,488.122 for S&P, 7,710.33 for Nasdaq, 1,122.6888 for Russell; 60% 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: | 1.2085%
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| Cusip: | 89114Y2Z3
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