Published on 4/30/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $19.67 million of autocallable Stars linked to weighted index basket
By William Gullotti
Buffalo, N.Y., April 30 – Toronto-Dominion Bank priced $19.67 million of 0% autocallable Strategic Accelerated Redemption Securities due April 29, 2027 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the FTSE China 50 index with a 5% weight.
The notes will be called at par plus a premium of 11.5% per year if the closing level of the basket is greater than or equal to its starting value on any annual observation date.
If the notes are not called at or prior to maturity, investors will be fully exposed to the decline of the basket.
BofA Securities, Inc. is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable Strategic Accelerated Redemption Securities
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| Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight), FTSE China 50 index (5% weight)
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| Amount: | $19,671,210
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| Maturity: | April 29, 2027
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If not called, full exposure to loss
|
| Call: | At par plus premium of 11.5% per year if basket closes at or above its initial value on any annual observation date, including maturity
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| Initial levels: | 4,939.01 for Stoxx, 8,078.86 for FTSE 100, 37,628.48 for Nikkei, 11,260.61 for Swiss, 7,575.911 for S&P/ASX 200, 11,672.86 for FTSE China 50
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| Strike date: | April 26 for S&P/ASX 200 only
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| Pricing date: | April 25
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| Settlement date: | May 3
|
| Agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 89116D253
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