Published on 7/15/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1 million callable contingent interest barrier notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, July 15 – Toronto-Dominion Bank priced $1.16 million of callable contingent interest barrier notes due July 17, 2023 linked to the common stocks of Nvidia Corp., Amazon.com, Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly interest payment at the rate of 16.5% per year if each stock closes at or above its coupon barrier price, 70% of its initial share price, on the observation date for that period.
The notes may be called at par plus any coupon on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the least performing stock finishes below its barrier price, 60% of its initial share price, in which case investors will be fully exposed to the decline of the laggard stock.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable contingent interest barrier notes
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| Underlying stocks: | Nvidia Corp., Amazon.com, Inc., Facebook, Inc.
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| Amount: | $1,000,000
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| Maturity: | July 17, 2023
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| Coupon: | 16.5% annual rate, payable monthly if all stocks close at or above coupon barrier prices on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier price, in which case full exposure to decline of laggard stock
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| Call option: | At par plus any coupon on any quarterly observation date
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| Initial share prices: | $820.50 for Nvidia, $3,718.55 for Amazon, $353.16 for Facebook
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| Coupon barrier levels: | $574.35 for Nvidia, $2,602.985 for Amazon, $247.212 for Facebook; 70% of initial levels
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| Barrier levels: | $492.30 for Nvidia, $2,231.13 for Amazon, $211.896 for Facebook; 60% of initial levels
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| Pricing date: | July 12
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| Settlement date: | July 15
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.6%
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| Cusip: | 89114TN99
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