Published on 7/19/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.71 million callable contingent interest barrier notes on three indexes
By Kiku Steinfeld
Chicago, July 19 – Toronto-Dominion Bank priced $1.71 million of callable contingent interest barrier notes due June 2, 2026 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.5% if each index closes at or above the 70% contingent interest barrier level on the observation date for that quarter.
The notes will be callable at par on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below the 70% 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
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| Issue: | Callable contingent interest barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $1,714,000
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| Maturity: | June 2, 2026
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| Coupon: | 7.5% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
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| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | 4,204.11 for S&P 500, 13,686.51 for Nasdaq, 2,268.972 for Russell
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| Coupon barrier levels: | 2,942.877 for S&P 500, 9,580.557 for Nasdaq, 1,588.2804 for Russell; 70% of initial levels
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| Barrier levels: | 2,942.877 for S&P 500, 9,580.557 for Nasdaq, 1,588.2804 for Russell; 70% of initial levels
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| Pricing date: | May 28
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| Settlement date: | June 3
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.9793%
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| Cusip: | 89114TK35
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