Published on 10/9/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $500,000 autocallable contingent interest barrier notes on three indexes
By Kiku Steinfeld
Chicago, Oct. 10 – Toronto-Dominion Bank priced $500,000 of autocallable contingent interest barrier notes due Feb. 19, 2027 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Euro Stoxx Banks 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 7.5% if each index closes at or above the 70% coupon barrier level on the relevant observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the final coupon if each index finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above the 60% barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Euro Stoxx Banks index
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| Amount: | $500,000
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| Maturity: | Feb. 19, 2027
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| Coupon: | 7.5% annual rate, payable quarterly if each index closes at or above coupon barrier level the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above coupon barrier; if worst performer finishes below coupon barrier but not below final barrier, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | At par plus coupon if each index closes above initial level on any quarterly call observation date
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| Initial levels: | 14,603.64 for Nasdaq, 2,079.311 for Russell, 111.1 for Stoxx
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| Coupon barrier levels: | 10,222.548 for Nasdaq, 1,455.5177 for Russell, 77.77 for Stoxx; 70% of initial levels
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| Barrier levels: | 8,762.184 for Nasdaq, 1,247.5866 for Russell, 66.66 for Stoxx; 60% of initial levels
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 22
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| Agent: | TD Securities (USA) LLC
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| Fees: | 4%
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| Cusip: | 89114V3V7
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