Published on 3/29/2021 in the Prospect News Structured Products Daily.
New Issue: TD prices $1.15 million contingent interest barrier autocalls on Dow, Russell, Nasdaq
By Kiku Steinfeld
Chicago, March 29 – Toronto-Dominion Bank priced $1.15 million of autocallable contingent interest barrier notes due March 15, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 8.6% if each index closes at or above the 60% 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 unless any index finishes below the 60% 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 and the Dow Jones industrial average
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| Amount: | $1.15 million
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| Maturity: | March 15, 2024
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| Coupon: | 8.6%, 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 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: | 32,778.64 for Dow, 2,352.789 for Russell, 12,937.29 for Nasdaq
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| Contingent interest barriers: | 19,667.184 for Dow, 1,411.6734 for Russell, 7,762.374 for Nasdaq; 60% of initial levels
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| Barriers: | 19,667.184 for Dow, 1,411.6734 for Russell, 7,762.374 for Nasdaq; 60% of initial levels
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| Pricing date: | March 12
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| Settlement date: | March 17
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 89114TDK5
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