Published on 9/10/2021 in the Prospect News Structured Products Daily.
New Issue: TD prices $3.02 million 20% fixed interest barrier autocalls on three stocks
By William Gullotti
Buffalo, N.Y., Sept. 10 – Toronto-Dominion Bank priced $3.02 million of 20% autocallable fixed interest barrier notes with daily close monitoring knock-in due Sept. 13, 2022 linked to the stocks of CrowdStrike Holdings, Inc., Unity Software Inc. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus the coupon if the shares of each stock close at or above the initial share price on any quarterly call observation date after six months.
If the notes have not been called, the payout at maturity will be par unless any stock closes below its 60% barrier value during the life of the notes and any stock finishes below its initial level, in which case investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial share price.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable fixed interest barrier notes with daily close monitoring knock-in
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| Underlying stocks: | CrowdStrike Holdings, Inc., Unity Software Inc., Wynn Resorts, Ltd.
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| Amount: | $3,023,000
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| Maturity: | Sept. 13, 2022
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| Coupon: | 20% annual rate, payable quarterly
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| Price: | Par
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| Payout at maturity: | par unless any stock closes below its 60% barrier value during the life of the notes and any stock finishes below its initial level, in which case investors will receive a number of shares of the worst performer equal to that stock’s equity ratio
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| Call: | Automatically at par plus coupon if shares of each stock close at or above initial share price on any quarterly call observation date after six months
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| Initial share prices: | $269.68 for CrowdStrike, $136.26 for Unity, $105.93 for Wynn
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| Barrier levels: | $161.808 for CrowdStrike, $81.756 for Unity, $63.558 for Wynn; 60% of initial share prices
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| Equity ratio: | 3.7081 for CrowdStrike, 7.3389 for Unity, 9.4402 for Wynn; share delivery per note
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| Strike date: | Sept. 7
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 13
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.25%
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| Cusip: | 89117GCG0
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