Published on 6/13/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $205,000 autocallable contingent interest barrier notes on Amazon
Chicago, June 13 – Toronto-Dominion Bank priced $205,000 of autocallable contingent interest barrier notes with memory interest due Dec. 14, 2022 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent interest payment at the annual rate of 10.54% if the stock closes at or above the barrier price, 80% of the initial share price, on the observation date for that period, plus any previously unpaid coupon.
The notes will be called at par plus the contingent interest payment if the shares close at or above the initial price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par plus the final contingent interest payment unless the stock finishes below the barrier price, in which case investors will be exposed to the decline of the stock.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes with memory interest
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $205,000
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| Maturity: | Dec. 14, 2022
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| Coupon: | 10.54% annual rate, payable quarterly if underlier finishes above barrier price on related observation date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par plus the final contingent interest payment unless the stock finishes below the barrier price, in which case full exposure to the decline of the stock
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| Call: | Automatically at par plus contingent interest payment if stock closes at or above initial price on any quarterly observation date
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| Initial share price: | $3,504.56
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| Barrier price: | $2,803.648; 80% of initial level
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| Pricing date: | Nov. 26, 2021
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| Settlement date: | Dec. 3, 2021
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| Agent: | TD Securities (USA) LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 89114TVN9
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