Published on 2/7/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $509,000 autocallable contingent interest barrier notes on ARK ETF, Nasdaq
Chicago, Feb. 7 – Toronto-Dominion Bank priced $509,000 of autocallable contingent interest barrier notes due April 18, 2024 linked to the least performing of the ARK Innovation ETF and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Monthly, the notes will pay a contingent interest payment at the rate of 11.5% per year if each underlying closes at or above the coupon barrier level, 70% of the initial level, on the observation date for that period.
The notes will be called at par plus coupon if each underlying closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the least performing underlier finishes below the barrier level, 70% of the initial level, in which case investors will be fully exposed to the laggard’s decline.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying assets: | ARK Innovation ETF, Nasdaq-100 index
|
| Amount: | $509,000
|
| Maturity: | April 18, 2024
|
| Coupon: | 11.5% annual rate, payable monthly if each underlying closes at or above coupon barrier level on relevant observation date
|
| Level: | Par
|
| Payout at maturity: | Par unless any underlying finishes below barrier level, in which case full exposure to laggard’s decline
|
| Call: | Automatically at par if each underlying closes at or above its initial level on any quarterly observation date after six months
|
| Initial levels: | $126.62 for ARK, 14,026.19 for Nasdaq
|
| Coupon barrier levels: | $88.634 for ARK, 9,818.333 for Nasdaq; 70% of initial levels
|
| Barrier levels: | $88.634 for ARK, 9,818.333 for Nasdaq; 70% of initial levels
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3.5973%
|
| Cusip: | 89114TGB2
|
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