Published on 3/21/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.74 million callable contingent interest barrier notes on Dow, Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., March 21 – Toronto-Dominion Bank priced $1.74 million of callable contingent interest barrier notes due March 20, 2025 linked to the least performing of the Dow Jones industrial average, 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 quarterly coupon at an annual rate of 15% if each index closes at or above the 70% contingent interest barrier level on the relevant observation date.
The notes will be callable at par plus any coupon due on any quarterly observation date.
If each index finishes at or above its 70% barrier level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index, Russell 2000 index
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| Amount: | $1,735,000
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| Maturity: | March 20, 2025
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| Coupon: | 15% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above barrier level; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call option: | At par plus any coupon due on any quarterly observation date
|
| Initial levels: | 34,480.76 for Dow, 14,118.6 for Nasdaq, 2,065.019 for Russell
|
| Coupon barrier levels: | 24,136.532 for Dow, 9,883.02 for Nasdaq, 1,445.5133 for Russell; 70% of initial levels
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| Barrier levels: | 24,136.532 for Dow, 9,883.02 for Nasdaq, 1,445.5133 for Russell; 70% of initial levels
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.4527%
|
| Cusip: | 89114V7C5
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