Published on 8/26/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $481,000 callable contingent interest buffered notes with downside leverage
By Kiku Steinfeld
Chicago, Aug. 26 – Toronto-Dominion Bank priced $481,000 of callable contingent interest buffered notes with downside leverage due Jan. 25, 2024 linked to the least performing of the Nasdaq-100 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.35% if each index closes at or above the 80% contingent interest barrier level on the observation date for that period.
The notes will be callable at par on any quarterly interest payment date after six months.
The payout at maturity will be par plus the final coupon unless any index finishes below the 80% buffer level, in which case investors will lose 1.25% for each 1% decline of the lesser-performing index beyond its 20% buffer.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable contingent interest buffered notes with downside leverage
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| Underlying indexes: | Nasdaq-100 index, Euro Stoxx 50 index
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| Amount: | $481,000
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| Maturity: | Jan. 25, 2024
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| Coupon: | 9.35%, payable monthly if each index closes at or above contingent interest barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below buffer level, in which case 1.25% loss for each 1% decline of lesser-performing index beyond 20% buffer
|
| Call option: | At par on any quarterly observation date after six months
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| Initial levels: | 14,846.46 for Nasdaq, 4,299.61 for Stoxx
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| Coupon barrier levels: | 11,877.168 for Nasdaq, 3,439.688 for Stoxx; 80% of initial levels
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| Buffer levels: | 11,877.168 for Nasdaq, 3,439.688 for Stoxx; 80% of initial levels
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| Pricing date: | Jan. 20, 2022
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| Settlement date: | Jan. 25, 2022
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.1%
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| Cusip: | 89114V2E6
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