Published on 12/23/2020 in the Prospect News Structured Products Daily.
New Issue: TD prices $2.47 million autocallable contingent interest barrier notes on index, ETFs
By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Toronto-Dominion Bank priced $2.47 million of autocallable contingent interest barrier notes due Dec. 23, 2024 linked to the least performing of the Euro Stoxx Banks index, the Energy Select Sector SPDR fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.04% if each asset closes at or above the 65% contingent interest barrier level on the observation date for that period.
The notes will be automatically called at par if each asset closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus any coupon due unless any asset finishes below the 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing asset from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying assets: | Euro Stoxx Banks index, Energy Select Sector SPDR fund and SPDR S&P Regional Banking ETF
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| Amount: | $2,468,000
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| Maturity: | Dec. 23, 2024
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| Coupon : | 11.04%, payable quarterly if each asset closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless any asset finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing asset from initial level
|
| Call: | Automatically at par if each asset closes at or above initial level on any quarterly observation date
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| Initial levels: | 74.5 for Stoxx, $50.58 for Energy, $39.40 for S&P
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| Contingent interest barriers: | 48.425 for Stoxx, $32.877 for Energy, $25.61 for S&P; 65% of initial levels
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| Barriers: | 48.425 for Stoxx, $32.877 for Energy, $25.61 for S&P; 65% of initial levels
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Agent: | TD Securities (USA) LLC
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| Fees: | 3.7445%
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| Cusip: | 89114T2Z4
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