Published on 9/20/2020 in the Prospect News Structured Products Daily.
New Issue: TD prices $3.64 million callable contingent interest barrier notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Sept. 21 – Toronto-Dominion Bank priced $3.64 million of callable contingent interest barrier notes due March 14, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 13% if each index closes at or above the 70% contingent interest barrier level on the observation date for that month.
The notes will be callable at par on any monthly observation date after three months.
The payout at maturity will be par unless any index finishes below the 51% 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: | Callable contingent interest barrier notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 500 index and S&P 500 index
|
| Amount: | $3,635,000
|
| Maturity: | March 14, 2023
|
| Coupon: | 13%, 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 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 monthly observation date after three months
|
| Initial levels: | 11,395.85 for Nasdaq, 1,526.480 for Russell, 3,398.96 for S&P
|
| Coupon barrier levels: | 7,977.095 for Nasdaq, 1,068.536 for Russell, 2,379.272 for S&P; 70% of initial levels
|
| Barrier levels: | 5,811.8835 for Nasdaq, 778.5048 for Russell, 1,733.4696 for S&P; 51% of initial levels
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 19
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.7613%
|
| Cusip: | 89114RSK3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
