Published on 11/10/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.4 million callable contingent interest buffered notes on Dow, S&P
By Taylor Fox
New York, Nov. 10 – Toronto-Dominion Bank priced $1.4 million of callable contingent interest buffered notes due Oct. 19, 2023 linked to the least performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 7% if each index closes at or above the 80% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly interest payment date after six months.
The payout at maturity will be par unless any index finishes below the 80% buffer level, in which case investors will lose 1% for each 1% decline of the lesser-performing index beyond its 20% buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying indexes: | Dow Jones industrial average and S&P 500 index
|
| Amount: | $1.4 million
|
| Maturity: | Oct. 19, 2023
|
| Coupon: | 7%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below buffer level, in which case 1% loss for each 1% decline of lesser-performing index beyond 20% buffer
|
| Call option: | At par on any quarterly observation date after six months
|
| Initial levels: | 28,514 for Dow Jones, 3,488.67 for S&P
|
| Coupon barrier levels: | 22,811.20 for Dow Jones, 2,790.936 for S&P; 80% of initial levels
|
| Buffer levels: | 22,811.20 for Dow Jones, 2,790.936 for S&P; 80% of initial levels
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 19
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.35%
|
| Cusip: | 89114RUY0
|
|
|
© 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.
