Published on 1/18/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.5 million callable contingent interest barrier notes on Stoxx, Russell, S&P
By Taylor Fox
New York, Jan. 19 – Toronto-Dominion Bank priced $1.5 million of callable contingent interest barrier notes due June 28, 2023 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index 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 a quarterly rate of 8.2% if each index closes at or above the 75% contingent interest barrier level on the observation date for that quarter.
The notes will be callable at par on any quarterly payment date.
The payout at maturity will be par unless any index finishes below the 75% 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: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
|
| Amount: | $1,500,000
|
| Maturity: | June 28, 2023
|
| Coupon: | 8.2%, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
|
| Price: | Par
|
| 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 payment date
|
| Initial levels: | 3,690.01 for S&P, 2,007.104 for Russell, 3,539.26 for Stoxx
|
| Coupon barrier levels: | 2,767.5075 for S&P, 1,505.328 for Russell, 2,654.445 for Stoxx; 75% of initial levels
|
| Barrier levels: | 2,767.5075 for S&P, 1,505.328 for Russell, 2,654.445 for Stoxx; 75% of initial levels
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 30
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.45%
|
| Cusip: | 89114T4N9
|
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