Published on 9/11/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $400,000 5.82% autocallable fixed-interest barrier notes on two stocks
By Kiku Steinfeld
Chicago, Sept. 13 – Toronto-Dominion Bank priced $400,000 of 5.82% autocallable fixed-interest barrier notes due July 6, 2022 linked to the shares of Apple Inc. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above the initial share price on any quarterly call observation date.
The payout at maturity will be par unless any stock finishes below 65% of its initial value, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable fixed-interest barrier notes
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| Underlying stocks: | Apple Inc. and Boeing Co.
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| Amount: | $400,000
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| Maturity: | July 6, 2022
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| Coupon: | 5.82%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier, in which case a number of shares of least performing stock equal to $1,000 divided by initial share price or, at issuer’s option, cash equivalent
|
| Call: | Automatically at par if shares of each stock close at or above initial share price on any quarterly call observation date
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| Initial share prices: | $136.96 for Apple, $239.56 for Boeing
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| Barrier prices: | $89.024 for Apple, $155.714 for Boeing, 65% of initial share prices
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| Equity ratios: | 7.3014 for Apple, 4.1743 for Boeing
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 89117GBM8
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