Published on 12/10/2020 in the Prospect News Structured Products Daily.
New Issue: TD prices $793,000 autocallable contingent interest barrier notes on Dow, Russell, Nasdaq
By Taylor Fox
New York, Dec. 10 – Toronto-Dominion Bank priced $793,000 of autocallable contingent interest barrier notes due March 10, 2022 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 month, the notes will pay a contingent coupon at an annual rate of 6.5% if each index closes at or above the 70% 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 plus any coupon due unless any index finishes below the 70% 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
|
| Underlying indexes: | Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average
|
| Amount: | $793,000
|
| Maturity: | March 10, 2022
|
| Coupon: | 6.5%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless any index finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date
|
| Initial levels: | 30,069.79 for Dow, 1,891.252 for Russell, 12,596.47 for Nasdaq
|
| Contingent interest barriers: | 21,048.853 for Dow, 1,323.8764 for Russell, 8,817.529 for Nasdaq; 70% of initial levels
|
| Barrier levels: | 21,048.853 for Dow, 1,323.8764 for Russell, 8,817.529 for Nasdaq; 70% of initial levels
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 10
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.3%
|
| Cusip: | 89114RZY5
|
© 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.
