Published on 6/28/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $2.33 million 9% autocallable fixed interest barrier notes on four stocks
By William Gullotti
Buffalo, N.Y., June 28 – Toronto-Dominion Bank priced $2.33 million of 9% autocallable fixed-interest barrier notes due June 22, 2023 linked to the common stocks of Applied Materials, Inc., Lam Research Corp., Micron Technology, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the coupon if the shares of each stock close at or above the initial share price on any monthly call observation date after six months.
The payout at maturity will be par plus the coupon unless any stock finishes below the barrier price, 58% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline, payable in shares of the worst performer.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable fixed interest barrier notes
|
| Underlying stocks: | Applied Materials, Inc., Lam Research Corp., Micron Technology, Inc. and Nvidia Corp.
|
| Amount: | $2,325,000
|
| Maturity: | June 22, 2023
|
| Coupon: | 9% annual rate, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline, payable in shares of worst performer
|
| Call: | Automatically at par plus coupon if shares of each stock close at or above initial share price on any monthly call observation date after six months
|
| Initial share prices: | $131.23 for Applied Materials, $612.66 for Lam, $76.95 for Micron, $745.55 for Nvidia
|
| Barrier levels: | $76.1134 for Applied Materials, $355.3428 for Lam, $44.631 for Micron, $432.419 for Nvidia; 58% of initial share prices
|
| Physical delivery levels: | 7.6202 for Applied Materials, 1.6322 for Lam, 12.9955 for Micron, 1.3413 for Nvidia
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.6629%
|
| Cusip: | 89117GAL1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
