Published on 9/7/2020 in the Prospect News Structured Products Daily.
New Issue: TD sells $2.66 million contingent interest barrier autocalls on Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, Sept. 8 – Toronto-Dominion Bank priced $2.66 million of autocallable contingent interest barrier notes due Sept. 6, 2023 linked to the lesser performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 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 7.6467% if each index closes at or above the 75% contingent interest barrier level on the observation date for that month.
The notes will be called at par if each index closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par plus any coupon unless any index finishes below the 65% 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
|
| Issue: | Autocallable contingent interest barrier notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $2,662,000
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| Maturity: | Sept. 6, 2023
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| Coupon: | 7.6467%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that month
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus any coupon unless any index finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call: | At par if each index closes at or above initial price on any quarterly observation date
|
| Initial levels: | 12,110.70 for Nasdaq, 1,561.876 for Russell, 28,430.05 for Dow
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| Interest barrier levels: | 9,083.025 for Nasdaq, 1,171.407 for Russell, 21,322.5375 for Dow; 75% of initial levels
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| Barrier levels: | 7,871.955 for Nasdaq, 1,015.2194 for Russell, 18,479.5325 for Dow; 65% of initial levels
|
| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | TD Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 89114RRE8
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