Published on 3/14/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $850,000 contingent interest barrier autocalls on four stocks
By Kiku Steinfeld
Chicago, March 14 – Toronto-Dominion Bank priced $850,000 of autocallable contingent interest barrier notes due Sept. 21, 2023 linked to the common stocks of CVS Health Corp., Target Corp., Walgreens Boots Alliance, Inc. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9% per year if each stock closes at or above the coupon barrier price, 65% of the initial share price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above 100% of their initial share prices on any quarterly call observation date.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below the barrier price, 65% of the initial share price, in which case investors will be fully exposed to the decline of the least performing stock.
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 stocks: | CVS Health Corp., Target Corp., Walgreens Boots Alliance, Inc. and Walmart Inc.
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| Amount: | $850,000
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| Maturity: | Sept. 21, 2023
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 9% per year if all stocks close at or above coupon barrier price on valuation date
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above final barrier, par plus coupon; otherwise, full exposure to decline of least performing stock
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| Call: | Automatically at par plus contingent coupon if shares of each stock close at or above 100% of initial share price on any quarterly call observation date
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| Initial share prices: | $85.35 for CVS, $246.95 for Target, $49.94 for Walgreens, $145.03 for Walmart
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| Barrier prices: | $55.4775 for CVS, $160.5175 for Target, $32.461 for Walgreens, $94.2695 for Walmart, 65% of initial share prices
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.0462%
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| Cusip: | 89114TRY0
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