Published on 3/8/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.77 million autocallable contingent interest buffer notes on S&P, Nasdaq
By William Gullotti
Buffalo, N.Y., March 8 – Toronto-Dominion Bank priced $1.77 million of autocallable contingent interest buffer notes due March 7, 2024 linked to the least performing of the Nasdaq-100 index and the S&P 500 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 9.8% if each index closes at or above the 80% coupon barrier level on the relevant observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its 85% buffer level.
Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 15%.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest buffer notes
|
| Underlying indexes: | Nasdaq-100 index, S&P 500 index
|
| Amount: | $1.77 million
|
| Maturity: | March 7, 2024
|
| Coupon: | 9.8% annual rate, payable monthly if each index closes at or above coupon barrier level the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above final buffer; otherwise, 1% loss for each 1% decline of worst performer beyond 15%
|
| Call: | At par plus coupon if each index closes above initial level on any monthly call observation date after six months
|
| Initial levels: | 12,290.81 for Nasdaq, 4,045.64 for S&P
|
| Coupon barrier levels: | 9,832.648 for Nasdaq, 3,236.512 for S&P; 80% of initial levels
|
| Buffer levels: | 10,447.1885 for Nasdaq, 3,438.794 for S&P; 85% of initial levels
|
| Pricing date: | March 3
|
| Settlement date: | March 8
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.65%
|
| Cusip: | 89114YT27
|
|
|
© 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.
