Published on 5/9/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.17 million callable contingent interest barrier notes on S&P, Stoxx, Russell
By William Gullotti
Buffalo, N.Y., May 9 – Toronto-Dominion Bank priced $1.17 million of callable contingent interest barrier notes due May 2, 2024 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 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 12.34% if each index closes at or above the 75% 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 after six months.
The payout at maturity will be par plus the final coupon unless any index finishes below the 75% 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
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| Issue: | Callable contingent interest barrier notes
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| Underlying indexes: | S&P 500 index, Euro Stoxx 50 index, Russell 2000 index
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| Amount: | $1,165,000
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| Maturity: | May 2, 2024
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| Coupon: | 12.34% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on the corresponding observation date
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| Price: | Par
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| 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
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| Call option: | At par plus any coupon due on any quarterly observation date after six months
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| Initial levels: | 4,287.5 for S&P, 3,777.02 for Stoxx, 1,917.944 for Russell
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| Coupon barrier levels: | 3,215.625 for S&P, 2,832.765 for Stoxx, 1,438.458 for Russell; 75% of initial levels
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| Barrier levels: | 3,215.625 for S&P, 2,832.765 for Stoxx, 1,438.458 for Russell; 75% of initial levels
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| Pricing date: | April 28
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| Settlement date: | May 3
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 89114VDQ7
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