Published on 9/27/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.93 million callable contingent interest barrier notes on Dow, S&P, Russell
By William Gullotti
Buffalo, N.Y., Sept. 27 – Toronto-Dominion Bank priced $1.93 million of callable contingent interest barrier notes due July 13, 2023 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.16% if each index closes at or above the 55% contingent interest barrier level on the relevant observation date.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless any index finishes below the 55% 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
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index, Russell 2000 index
|
| Amount: | $1,925,000
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| Maturity: | July 13, 2023
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| Coupon: | 5.16% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par on any quarterly observation date
|
| Initial levels: | 34,421.93 for Dow, 4,320.82 for S&P, 2,231.677 for Russell
|
| Coupon barrier levels: | 18,932.0615 for Dow, 2,376.451 for S&P, 1,227.4224 for Russell; 55% of initial levels
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| Barrier levels: | 18,932.0615 for Dow, 2,376.451 for S&P, 1,227.4224 for Russell; 55% of initial levels
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| Strike date: | July 8
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| Pricing date: | July 9
|
| Settlement date: | July 14
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 89114TN40
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