Published on 12/24/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $1 million callable contingent interest barrier notes on S&P, Dow, Nasdaq
By Taylor Fox
New York, Dec. 24 – Toronto-Dominion Bank priced $1 million of callable contingent interest barrier notes due Dec. 7, 2023 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, 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 9.48% if each index closes at or above the 75% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly call observation date starting after six months.
The payout at maturity will be par unless any index finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying indexes: | Nasdaq-100 index, S&P 500 index and Dow Jones industrial average
|
| Amount: | $1 million
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| Maturity: | Dec. 7, 2023
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| Coupon: | 9.48% annual rate, 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 barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call option: | At par on any quarterly call observation date starting after six months
|
| Initial levels: | 12,528.48 for Nasdaq, 3,699.12 for S&P, 30,218.26 for Dow
|
| Coupon barrier levels: | 9,396.36 for Nasdaq, 2,774.34 for S&P, 22,663.695 for Dow; 75% of initial levels
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| Barrier levels: | 9,396.36 for Nasdaq, 2,774.34 for S&P, 22,663.695 for Dow; 75% of initial levels
|
| Pricing date: | Dec. 4
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| Settlement date: | Dec. 9
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.35%
|
| Cusip: | 89114RZX7
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