Published on 2/7/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.49 million autocallable contingent interest barrier notes on indexes
By William Gullotti
Buffalo, N.Y., Feb. 7 – Toronto-Dominion Bank priced $1.49 million of autocallable contingent interest barrier notes due April 29, 2022 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 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 6.12% if each index closes at or above the 70% contingent interest barrier level on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date other than the final one.
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
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
|
| Amount: | $1,485,000
|
| Maturity: | April 29, 2022
|
| Coupon: | 6.12% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on observation date for that quarter
|
| Price: | Par
|
| 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
|
| Call: | At par if each index closes above initial level on any quarterly call observation other than the final one
|
| Initial levels: | 2,228.923 for Russell, 4,141.59 for S&P, 3,966.99 for Euro Stoxx
|
| Coupon barrier levels: | 1,560.2461 for Russell, 2,899.113 for S&P, 2,776.893 for Euro Stoxx; 70% of initial levels
|
| Barrier levels: | 1,560.2461 for Russell, 2,899.113 for S&P, 2,776.893 for Euro Stoxx; 70% of initial levels
|
| Pricing date: | April 13
|
| Settlement date: | April 16
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 89114TGC0
|
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