Published on 11/7/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.34 million callable contingent interest barrier notes on S&P, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – Toronto-Dominion Bank priced $1.34 million of callable contingent interest barrier notes due Nov. 7, 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 monthly coupon at an annual rate of 14.95% if each index closes at or above the 70% contingent interest barrier level on the relevant observation date.
The notes will be callable at par on any monthly observation date after three months.
The payout at maturity will be par unless any index finishes below the 70% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index 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: | $1,343,000
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Maturity: | Nov. 7, 2024
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Coupon: | 14.95% annual rate, payable monthly 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 unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
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Call: | At par on any monthly observation date after three months at option of issuer
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Initial levels: | 3,719.89 for S&P, 10,690.6 for Nasdaq, 1,799.73 for Russell
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Coupon barrier levels: | 2,603.923 for S&P, 7,483.42 for Nasdaq, 1,245.811 for Russell; 70% of initial levels
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Barrier levels: | 2,603.923 for S&P, 7,483.42 for Nasdaq, 1,245.811 for Russell; 70% of initial levels
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Pricing date: | Nov. 3
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Settlement date: | Nov. 8
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Agent: | TD Securities (USA) LLC
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Fees: | 0.6%
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Cusip: | 89114YFK2
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