Published on 3/8/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $590,000 contingent interest barrier notes on S&P, Nasdaq, Russell
By Kiku Steinfeld
Chicago, March 8 – Toronto-Dominion Bank priced $590,000 of contingent interest barrier notes due March 18, 2022 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.
The notes will pay a contingent monthly coupon at an annual rate of 4.9% if each index closes at or above the 70% contingent interest barrier level on the corresponding observation date.
The payout at maturity will be par plus the final coupon 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: | Contingent interest barrier notes
|
| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $590,000
|
| Maturity: | March 18, 2022
|
| Coupon: | 4.9% annual rate, payable monthly if each index closes at or above contingent interest barrier level on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Initial levels: | 4,480.70 for S&P, 15,503.53 for Nasdaq, 2,234.448 for Russell
|
| Coupon barrier levels: | 3,136.49 for S&P, 10,852.471 for Nasdaq, 1,564.1136 for Russell; 70% of initial levels
|
| Barrier levels: | 3,136.49 for S&P, 10,852.471 for Nasdaq, 1,564.1136 for Russell; 70% of initial levels
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 20
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.3%
|
| Cusip: | 89114TRR5
|
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