Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $830,000 autocallable contingent interest barrier notes on three ETFs
Chicago, May 17 – Toronto-Dominion Bank priced $830,000 of autocallable contingent interest barrier notes due Oct. 26, 2023 linked to the least performing of the iShares Russell 2000 ETF, the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each fund closes at or above the 70% contingent interest barrier level on the relevant observation date.
The notes will be called at par plus the coupon if each fund closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any fund finishes below the 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing fund from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
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| Underlying funds: | iShares Russell 2000 ETF, Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust
|
| Amount: | $830,000
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| Maturity: | Oct. 26, 2023
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| Coupon: | 7% annual rate, payable quarterly if each fund closes at or above contingent interest barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund finishes below barrier level, in which case 1% loss for each 1% decline of least-performing fund from initial level
|
| Call: | At par plus coupon if each fund closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $227.95 for iShares, $377.27 for Invesco, $453.59 for SPDR
|
| Coupon barrier levels: | $159.565 for iShares, $264.089 for Invesco, $317.513 for SPDR; 70% of initial levels
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| Barrier levels: | $148.1675 for iShares, $245.2255 for Invesco, $294.8335 for SPDR; 65% of initial levels
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| Strike date: | Oct. 21, 2021
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| Pricing date: | Oct. 22, 2021
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| Settlement date: | Oct. 27, 2021
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| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.109%
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| Cusip: | 89114TTY8
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