Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $500,000 callable contingent interest barrier notes on three indexes
By Kiku Steinfeld
Chicago, June 8 – Toronto-Dominion Bank priced $500,000 of callable contingent interest barrier notes due Nov. 24, 2023 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.52% if each index closes at or above the 65% contingent interest barrier level on the observation date for that quarter.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par unless any index finishes below the 65% 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
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Issue: | Callable contingent interest barrier notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index, Russell 2000 index
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Amount: | $500,000
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Maturity: | Nov. 24, 2023
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Coupon: | 8.52% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
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Call option: | At par on any quarterly observation date
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Initial levels: | 35,931.05 for Dow, 16,308.07 for Nasdaq, 2,377.008 for Russell
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Coupon barrier levels: | 23,355.1825 for Dow, 10,600.2455 for Nasdaq, 1,545.0552 for Russell; 65% of initial levels
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Barrier levels: | 23,355.1825 for Dow, 10,600.2455 for Nasdaq, 1,545.0552 for Russell; 65% of initial levels
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Pricing date: | Nov. 18, 2021
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Settlement date: | Nov. 24, 2021
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Agent: | TD Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 89114TVF6
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