Published on 9/24/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $850,000 callable contingent interest buffered notes on Russell, Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, Sept. 24 – Toronto-Dominion Bank priced $850,000 of callable contingent interest buffered notes with downside leverage due Aug. 11, 2022 linked to the least performing of the S&P 500 index, 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 4.61% if each index closes at or above the 75% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly interest payment date after six months.
The payout at maturity will be par unless any index finishes below the 75% buffer level, in which case investors will lose 1.3333% for each 1% decline of the lesser-performing index beyond its 25% buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable contingent interest buffered notes with downside leverage
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index and the Russell 2000 index
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| Amount: | $850,000
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| Maturity: | Aug. 11, 2022
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| Coupon: | 4.61%, payable quarterly 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 buffer level, in which case 1.3333% loss for each 1% decline of lesser-performing index beyond 25% buffer
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| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | 4,358.13 for S&P, 14,810.54 for Nasdaq and 2,252.847 for Russell
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| Coupon barrier levels: | 3,268.5975 for S&P, 11,107.905 for Nasdaq and 1,689.6353 for Russell; 75% of initial levels
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| Buffer levels: | 3,268.5975 for S&P, 11,107.905 for Nasdaq and 1,689.6353 for Russell; 75% of initial levels
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| Pricing date: | July 7
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| Settlement date: | July 12
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.35%
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| Cusip: | 89114TMR0
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