Published on 12/10/2020 in the Prospect News Structured Products Daily.
New Issue: TD prices $1.58 million autocallable contingent interest barrier notes on Russell, Nasdaq
By Taylor Fox
New York, Dec. 10 – Toronto-Dominion Bank priced $1.58 million of autocallable contingent interest barrier notes due Dec. 12, 2022 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 10% if each index closes at or above the 70% contingent interest barrier level on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus any coupon due unless any index finishes below the 70% 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: | Autocallable contingent interest barrier notes
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Underlying indexes: | Nasdaq-100 index, the Russell 2000 index
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Amount: | $1,580,000
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Maturity: | Dec. 12, 2022
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Coupon: | 10%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that period
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Price: | Par
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Payout at maturity: | Par plus any coupon due unless any index finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
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Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date
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Initial levels: | 1,892.449 for Russell, 12,528.48 for Nasdaq
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Contingent interest barriers: | 1,324.7143 for Russell, 8,769.936 for Nasdaq; 70% of initial levels
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Barriers: | 1,324.7143 for Russell, 8,769.936 for Nasdaq; 70% of initial levels
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Pricing date: | Dec. 4
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Settlement date: | Dec. 7
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Agent: | TD Securities (USA) LLC
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Fees: | 0.35%
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Cusip: | 89114T2G6
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