Published on 3/30/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.1 million 8.04% autocallable fixed interest barrier notes on stocks
By Wendy Van Sickle
Columbus, Ohio, March 30 – Toronto-Dominion Bank priced $1.1 million of 8.04% autocallable fixed interest barrier notes due March 23, 2023 linked to the shares of DuPont de Nemours, Inc., Dow Inc. and 3M Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above the initial share price on any quarterly call observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the barrier price, 60% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline.
TD Securities (USA) LLC is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable fixed interest barrier notes
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Underlying stocks: | DuPont de Nemours, Inc., Dow Inc. and 3M Co.
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Amount: | $1.1 million
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Maturity: | March 23, 2023
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Coupon: | 8.04%, payable monthly
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline
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Call: | Automatically at par plus contingent coupon if shares of each stock close at or above initial share price on any quarterly call observation date after six months
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Initial share prices: | $77.10 for DuPont de Nemours, $63.91 for Dow, $188.71 for 3M
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Barrier prices: | $46.26 for DuPont de Nemours, $38.346 for Dow, $113.226 for 3M, 60% of initial share prices
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Pricing date: | March 18
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Settlement date: | March 23
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Agent: | TD Securities (USA) LLC
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Fees: | 3.5%
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Cusip: | 891160S20
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