Published on 3/31/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $402,000 autocallable contingent interest barrier notes on three indexes
Chicago, March 31 – Toronto-Dominion Bank priced $402,000 of autocallable contingent interest barrier notes due April 3, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 8.3% if each index closes at or above the 70% coupon barrier level on the relevant observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly call observation date starting Sept. 28.
The payout at maturity will be par if each index finishes at or above the 65% barrier level. 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
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $402,000
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| Maturity: | April 3, 2024
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| Coupon: | 8.3% annual rate, payable quarterly if each index closes at or above coupon barrier level the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above final barrier; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | At par plus coupon if each index closes above initial level on any quarterly call observation date starting Sept. 28
|
| Initial levels: | 14,987.40 for Nasdaq, 2,078.060 for Russell, 4,575.52 for S&P
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| Coupon barrier levels: | 10,491.18 for Nasdaq, 1,454.642 for Russell, 3,202.864 for S&P; 70% of initial levels
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| Final barrier levels: | 9,741.81 for Nasdaq, 1,350.739 for Russell, 2,974.088 for S&P; 65% of initial levels
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| Pricing date: | March 28
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| Settlement date: | March 31
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 89114V5Q6
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