Published on 12/29/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $3.58 million autocallable contingent interest barrier notes on three ETFs
By William Gullotti
Buffalo, N.Y., Dec. 29 – Toronto-Dominion Bank priced $3.58 million of autocallable contingent interest barrier notes due Dec. 7, 2023 linked to the least performing of the iShares Russell 2000 ETF, the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each fund closes at or above the 65% contingent interest barrier level on the relevant observation date.
The notes will be called at par plus the coupon if each fund closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the final coupon unless any fund finishes below the 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing fund from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
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| Underlying funds: | iShares Russell 2000 ETF, Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust
|
| Amount: | $3,575,000
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| Maturity: | Dec. 7, 2023
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| Coupon: | 10% annual rate, payable quarterly if each fund closes at or above contingent interest barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any fund finishes below barrier level, in which case 1% loss for each 1% decline of least-performing fund from initial level
|
| Call: | At par plus coupon if each fund closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $214.71 for iShares, $383.13 for Invesco, $453.42 for SPDR
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| Coupon barrier levels: | $139.5615 for iShares, $249.0345 for Invesco, $294.723 for SPDR; 65% of initial levels
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| Barrier levels: | $139.5615 for iShares, $249.0345 for Invesco, $294.723 for SPDR; 65% of initial levels
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 8
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| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.49%
|
| Cusip: | 89114TWW8
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