Published on 2/14/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $2.9 million 9% autocallable fixed-interest barrier notes on gas stocks
Chicago, Feb. 14 – Toronto-Dominion Bank priced $2.9 million of 9% autocallable fixed-interest barrier notes due April 26, 2023 linked to the least performing of the American Depositary Receipts of BP plc, the common stocks of ConocoPhillips, Phillips 66 and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above the initial share price on any monthly call observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the barrier price, 55% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline, payable in shares.
TD Securities (USA) LLC is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable fixed-interest barrier notes
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Underlying stocks: | BP plc, the common stocks of ConocoPhillips, Phillips 66 and Valero Energy Corp.
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Amount: | $2,900,000
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Maturity: | April 26, 2023
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Coupon: | 9% annual rate, payable monthly
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline, payable in shares
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Call: | Automatically at par plus contingent coupon if shares of each stock close at or above initial share price on any monthly call observation date after six months
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Initial share prices: | $24.96 for BP, $50.04 for Conoco, $77.02 for Phillips and $70.30 for Valero
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Barrier prices: | $13.728 for BP, $27.522 for Conoco, $42.361 for Phillips and $38.665 for Valero, 55% of initial share prices
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Pricing date: | April 21, 2021
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Settlement date: | April 26, 2021
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Agent: | TD Securities (USA) LLC
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Fees: | 2.9448%
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Cusip: | 89117FE21
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