Published on 12/18/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.03 million callable contingent interest barrier notes on Dow, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 18 – Toronto-Dominion Bank priced $1.03 million of callable contingent interest barrier notes due Dec. 14, 2023 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 5.32% if each index closes at or above the 55% contingent interest barrier level on the observation date for that quarter.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par unless any index finishes below the 55% 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: | Callable contingent interest barrier notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,025,000
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| Maturity: | Dec. 14, 2023
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| Coupon: | 5.32%, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
|
| 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
|
| Call option: | At par on any quarterly observation date
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| Initial levels: | 29,999.26 for Dow, 1,922.703 for Russell, 3,668.1 for S&P
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| Coupon barrier levels: | 16,499.593 for Dow, 1,057.4867 for Russell, 2,017.455 for S&P; 55% of initial levels
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| Barrier levels: | 16,499.593 for Dow, 1,057.4867 for Russell, 2,017.455 for S&P; 55% of initial levels
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 16
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.5%
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| Cusip: | 89114T3B6
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