Published on 10/29/2020 in the Prospect News Structured Products Daily.
New Issue: TD prices $1.55 million contingent interest barrier autocalls on Dow, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Oct. 29 – Toronto-Dominion Bank priced $1.55 million of autocallable contingent interest barrier notes due S Oct. 28, 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 quarter, the notes will pay a contingent coupon at an annual rate of 7.84% if each index closes at or above the 50% 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: | $1,548,000
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| Maturity: | Oct. 28, 2024
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| Coupon: | 7.84%, 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 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: | 28,335.57 for Dow, 1,640.502 for Russell, 11,692.57 for Nasdaq
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| Contingent interest barriers: | 14,167.785 for Dow, 820.251 for Russell, 5,846.285 for Nasdaq; 50% of initial levels
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| Barriers: | 17,001.342 for Dow, 984.3012 for Russell, 7,015.542 for Nasdaq; 60% of initial levels
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 28
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 89114RV94
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