Published on 12/28/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $3.37 million callable contingent interest barrier notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – Toronto-Dominion Bank priced $3.37 million of callable contingent interest barrier notes due Dec. 27, 2024 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 11% if each index closes at or above the 65% 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 if each index finishes at or above 65% threshold level. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $3.37 million
|
| Maturity: | Dec. 27, 2024
|
| Coupon: | 11% annual rate, payable quarterly if each index closes at or above contingent interest barrier level on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above threshold level; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call option: | At par plus any coupon due on any quarterly observation date after six months
|
| Initial levels: | 3,878.44 for S&P, 11,235.88 for Nasdaq, 1,776.941 for Russell
|
| Coupon barrier levels: | 2,520.986 for S&P, 7,303.322 for Nasdaq, 1,155.0117 for Russell; 65% of initial levels
|
| Threshold levels: | 2,520.986 for S&P, 7,303.322 for Nasdaq, 1,155.0117 for Russell; 65% of initial levels
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 89114YJX0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
