Published on 12/11/2022 in the Prospect News Structured Products Daily.
New Issue: TD sells $339,000 callable contingent interest barrier notes on S&P, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Dec. 12 – Toronto-Dominion Bank priced $339,000 of callable contingent interest barrier notes due April 16, 2025 linked to the least performing of the S&P 500 index, the Nasdaq-100 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 10.67% if each index closes at or above the 80% contingent interest barrier level on the relevant observation date.
The notes will be callable at par on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below the 70% 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
|
| Issue: | Callable contingent interest barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $339,000
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| Maturity: | April 16, 2025
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| Coupon: | 10.67% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Call: | At par on any quarterly observation date after six months at option of issuer
|
| Initial levels: | 13,990.21 for Nasdaq, 1,980.324 for Russell, 4,412.53 for S&P
|
| Coupon barrier levels: | 11,192.168 for Nasdaq, 1,584.2592 for Russell, 3,530.024 for S&P; 80% of initial levels
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| Barrier levels: | 9,793.147 for Nasdaq, 1,386.2268 for Russell, 3,088.771 for S&P; 70% of initial levels
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| Pricing date: | April 11, 2022
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| Settlement date: | April 14, 2022
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 89114VB89
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