Published on 5/17/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.55 million 8% autocallable fixed interest barrier notes on stocks
By Wendy Van Sickle
Columbus, Ohio, May 17 – Toronto-Dominion Bank priced $1.55 million of 8% autocallable fixed-interest barrier notes due May 2, 2023 linked to the common stocks of American International Group, Inc., Anthem, Inc., Hartford Financial Services Group, Inc. and Lincoln National Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the coupon if the shares of each stock close at or above the initial share price on any monthly call observation date after six months.
The payout at maturity will be par plus the coupon unless any stock finishes below the barrier price, 63% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline, payable in shares of the worst performer.
TD Securities (USA) LLC is the underwriter.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable fixed interest barrier notes
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| Underlying stocks: | American International Group, Inc., Anthem, Inc., Hartford Financial Services Group, Inc. and Lincoln National Corp.
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| Amount: | $1.55 million
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| Maturity: | May 2, 2023
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| Coupon: | 8% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline, payable in shares of worst performer
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| Call: | Automatically at par plus coupon if shares of each stock close at or above initial share price on any monthly call observation date after six months
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| Initial share prices: | $48.44 for American International, $376.86 for Anthem, $69.50 for Hartford, $64.55 for Lincoln National
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| Barrier levels: | $30.5172 for American International, $237.4218 for Anthem, $43.785 for Hartford, $40.6665 for Lincoln National; 63% of initial share prices
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.9226%
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| Cusip: | 89117FE88
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