Published on 3/19/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $4.19 million callable contingent interest buffered notes on iShares ETF, Nasdaq
By Taylor Fox
New York, March 19 – Toronto-Dominion Bank priced $4.19 million of callable contingent interest buffered notes with downside leveraged due March 14, 2024 linked to the least performing of the Nasdaq-100 index and the iShares MSCI EAFE ETF, 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% if each asset closes at or above the 71.5% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly interest payment date after six months.
The payout at maturity will be par unless any index finishes below the 71.5% buffer level, in which case investors will lose 1.3986% for each 1% decline of the lesser-performing index beyond its 28.5% buffer.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Callable contingent interest buffered notes with downside leverage
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Underlying assets: | Nasdaq-100 index and the iShares MSCI EAFE ETF
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Amount: | $4,190,000
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Maturity: | March 14, 2024
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Coupon: | 7%, payable monthly 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 buffer level, in which case 1.3986% loss for each 1% decline of lesser-performing index beyond 28.5% buffer
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Call option: | At par on any quarterly observation date after six months
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Initial levels: | $74.37 for fund, 12,299.08 for Nasdaq
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Coupon barrier levels: | $53.1746 for fund, 8,793.8422 for Nasdaq; 71.5% of initial levels
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Buffer levels: | $53.1746 for fund, 8,793.8422 for Nasdaq; 71.5% of initial levels
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Pricing date: | March 9
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Settlement date: | March 12
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Agent: | TD Securities (USA) LLC
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Fees: | 0.35%
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Cusip: | 89114TDN9
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