Published on 8/16/2023 in the Prospect News Structured Products Daily.
New Issue: TD prices $932,000 callable contingent interest barrier notes on Dow, Russell, S&P
Chicago, Aug. 16 – Toronto-Dominion Bank priced $932,000 of callable contingent interest barrier notes due July 25, 2024 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a monthly contingent coupon at an annual rate of 12.44% if each index closes at or above its 65% contingent interest barrier level on the observation date for that period.
The notes are callable at par quarterly.
The payout at maturity will be par unless any index finishes below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the least-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, Russell 2000 index and S&P 500 index
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| Amount: | $932,000
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| Maturity: | July 25, 2024
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| Coupon: | 12.44% annual rate, payable monthly if each index closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus 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 quarterly
|
| Initial levels: | 32,036.90 for Dow, 1,836.693 for Russell and 3,998.95 for S&P
|
| Contingent interest barriers: | 20,823.985 for Dow, 1,193.8505 for Russell and 2,599.3175 for S&P; 65% of initial levels
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| Barrier levels: | 20,823.985 for Dow, 1,193.8505 for Russell and 2,599.3175 for S&P; 65% of initial levels
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| Pricing date: | July 21, 2022
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| Settlement date: | July 26, 2022
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0%
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| Cusip: | 89114YA43
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