Published on 6/21/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $579,000 autocallable contingent interest barrier notes on ETF, indexes
By William Gullotti
Buffalo, N.Y., June 21 – Toronto-Dominion Bank priced $579,000 of autocallable contingent interest barrier notes due May 24, 2024 linked to the performance of the ARK Innovation ETF, Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Monthly, the notes will pay a contingent interest payment at the rate of 8.76% per year if each underlying closes at or above the coupon barrier level, 60% of the initial share level, on the observation date for that period.
The notes will be called at par plus coupon if each underlying closes at or above its initial level on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the least performing underlier finishes below the barrier level, 60% of the initial share level, in which case investors will be fully exposed to the laggard’s decline.
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 assets: | ARK Innovation ETF, Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $579,000
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| Maturity: | May 24, 2024
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| Coupon: | 8.76% annual rate, payable monthly if each underlying closes at or above coupon barrier level on relevant observation date
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| Level: | Par
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| Payout at maturity: | Par unless any underlying finishes below barrier level, in which case full exposure to laggard’s decline
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| Call: | Automatically at par if each underlying closes at or above its initial level on any quarterly observation date
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| Initial levels: | $105.84 for ARK, 13,411.74 for Nasdaq, 2,215.268 for Russell, 4,155.86 for S&P
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| Coupon barrier levels: | $63.504 for ARK, 8,047.044 for Nasdaq, 1,329.1608 for Russell, 2,493.516 for S&P; 60% of initial levels
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| Barrier levels: | $63.504 for ARK, 8,047.044 for Nasdaq, 1,329.1608 for Russell, 2,493.516 for S&P; 60% of initial levels
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| Pricing date: | May 24
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| Settlement date: | May 28
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| Agent: | TD Securities (USA) LLC
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| Fees: | 3.836%
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| Cusip: | 89114TJT0
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