Published on 9/21/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $2.12 million contingent interest barrier autocalls on three stocks
By William Gullotti
Buffalo, N.Y., Sept. 21 – Toronto-Dominion Bank priced $2.12 million of autocallable contingent interest barrier notes due Sept. 20, 2024 linked to the common stocks of Advanced Micro Devices, Inc., salesforce.com, inc. and Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent interest payment at the rate of 11.5% per year if each stock closes at or above the coupon barrier price, 60% of the initial share price, on the observation date for that period.
The notes will be called at par plus the contingent interest payment if each stock closes at or above its initial price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par plus any final contingent interest payment due unless the least performing stock finishes below the barrier price, 50% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline from its initial share price.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stocks: | Advanced Micro Devices, Inc., salesforce.com, inc., Freeport-McMoRan Inc.
|
| Amount: | $2,115,000
|
| Maturity: | Sept. 20, 2024
|
| Coupon: | 11.5% annual rate, payable monthly if each stock closes at or above coupon barrier level on relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline from its initial share price
|
| Call: | Automatically at par plus coupon if each stock closes at or above its initial level on any quarterly observation date
|
| Initial share prices: | $103.88 for AMD, $260.53 for salesforce, $33.05 for Freeport-McMoRan
|
| Coupon barrier levels: | $62.328 for AMD, $156.318 for salesforce, $19.83 for Freeport-McMoRan; 60% of initial levels
|
| Barrier levels: | $51.94 for AMD, $130.265 for salesforce, $16.525 for Freeport-McMoRan; 50% of initial levels
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 22
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 89114TRU8
|
|
|
© 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.
