Published on 2/23/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $2.72 million autocallable contingent interest buffered notes on Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – Toronto-Dominion Bank priced $2.72 million of autocallable contingent interest buffered notes due Feb. 22, 2024 linked to the Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent interest payment at the rate of 9.05% per year if each index closes at or above the coupon barrier level, 80% of the initial level, on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any monthly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the least performing index finishes below the buffer level, 85% of the initial level, in which case investors will lose 1% for each 1% loss of the laggard index’s decline beyond the 15% buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest buffered notes
|
| Underlying indexes: | Nasdaq-100 index and S&P 500 index
|
| Amount: | $2.72 million
|
| Maturity: | Feb. 22, 2024
|
| Coupon: | 9.05% annual rate, payable each month that each index closes at or above coupon barrier level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below buffer level, in which case 1% loss for each 1% decline of laggard index beyond buffer
|
| Call: | Automatically at par if each index closes at or above its initial level on any monthly observation date after six months
|
| Initial levels: | 12,442.48 for Nasdaq, 4,090.41 for S&P
|
| Coupon barrier levels: | 9,953.984 for Nasdaq, 3,272.328 for S&P; 80% of initial levels
|
| Buffer levels: | 10,576.108 for Nasdaq, 3,476.8485 for S&P; 85% of initial levels
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 22
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.65%
|
| Cusip: | 89114YQ46
|
|
|
|
|
© 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.
