Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: TD sells $990,000 callable contingent interest barrier notes on S&P, Dow, Russell
By Kiku Steinfeld
Chicago, July 14 – Toronto-Dominion Bank priced $990,000 of callable contingent interest barrier notes due Feb. 17, 2028 linked to the least performing of the S&P 500 index, the Dow Jones industrial average 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 10.6% if each index closes at or above the 75% contingent interest barrier level on the relevant observation date.
The notes will be callable at par plus any coupon due on any monthly observation date starting after three months.
The payout at maturity will be par each index finishes at or above its 70% 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
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average, Russell 2000 index
|
| Amount: | $990,000
|
| Maturity: | Feb. 17, 2028
|
| Coupon: | 10.6% annual rate, payable monthly if each index closes at or above contingent interest barrier level on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes at or above final barrier; otherwise, 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par plus any coupon due on any monthly observation date starting after three months
|
| Initial levels: | 34,089.27 for Dow, 1,939.912 for Russell, 4,136.13 for S&P
|
| Coupon barrier levels: | 25,566.95 for Dow, 1,454.93 for Russell, 3,102.10 for S&P; 75% of initial levels
|
| Barrier levels: | 23,862.49 for Dow, 1,357.94 for Russell, 2,895.29 for S&P; 70% of initial levels
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 17
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 06749NPG1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
