Published on 3/18/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.69 million autocallable contingent interest buffered notes on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, March 18 – Toronto-Dominion Bank priced $1.69 million of autocallable contingent interest buffered notes due Dec. 14, 2023 linked to the common indexes of Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent interest payment at the rate of 11.96% per year if each index closes at or above the coupon barrier level, 80% of the initial level, on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after three months.
If the notes are not called, the payout at maturity will be par unless the least performing index finishes below the buffer level, 80% of the initial level, in which case investors will lose 1% for each 1% loss of the laggard index’s decline beyond the 20% buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest buffered notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,687,000
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| Maturity: | Dec. 14, 2023
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| Coupon: | 11.96% annual rate, payable each month that each index closes at or above coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below buffer level, in which case 1% loss for each 1% decline of laggard index beyond buffer
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| Call: | Automatically at par if each index closes at or above its initial level on any quarterly observation date after three months
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| Initial levels: | 13,301.83 for Nasdaq, 1,979.668 for Russell, 32,944.19 for Dow
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| Coupon barrier levels: | 10,641.464 for Nasdaq, 1,583.7344 for Russell, 26,355.352 for Dow; 80% of initial levels
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| Buffer levels: | 10,641.464 for Nasdaq, 1,583.7344 for Russell, 26,355.352 for Dow; 80% of initial levels
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.7%
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| Cusip: | 89114V6X0
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