Published on 1/31/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $955,000 callable fixed interest barrier notes on three indexes
Chicago, Jan. 31 – Toronto-Dominion Bank sold $955,000 of 11.35% callable fixed interest barrier notes with daily close monitoring knock-in due Jan. 14, 2025 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.
Interest is payable monthly.
The notes may be called at par plus the contingent coupon on any monthly call observation date after six months.
The payout at maturity will be par if none of the three indexes close below the 70% barrier value on any day during the life of the notes or if all three indexes finish above their initial levels.
Otherwise, investors will be fully exposed to the losses of the worst performer.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable fixed interest barrier notes with daily close monitoring knock-in
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $955,000
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| Maturity: | Jan. 14, 2025
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| Coupon: | 11.35% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if no index closes below barrier value during life of notes or if all three indexes finish above initial levels; otherwise, full exposure to losses of worst performer
|
| Call option: | At par plus coupon on any monthly call observation date after six months
|
| Initial levels: | 16,649.88 for Nasdaq, 1,989.006 for Russell, 4,763.54 for S&P
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| Barrier levels: | 11,654.916 for Nasdaq, 1,392.3042 for Russell, 3,334.478 for S&P; 70% of initial levels
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| Strike date: | Jan. 8
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 12
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.1%
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| Cusip: | 89115FPE5
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