Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $170,000 autocallable contingent interest barrier notes on indexes
Chicago, April 24 – Toronto-Dominion Bank priced $170,000 of autocallable contingent interest barrier notes due May 30, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 9.3% if each index closes at or above the 70% 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 quarterly call observation date after six months.
The payout at maturity will be par plus any final coupon if each index finishes at or above its 65% barrier 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
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $170,000
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| Maturity: | May 30, 2024
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| Coupon: | 9.3% annual rate, payable quarterly if each index closes at or above coupon barrier level the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above final barrier; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | At par plus coupon if each index closes above initial level on any quarterly call observation date after six months
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| Initial levels: | 11,769.84 for Nasdaq, 1,764.826 for Russell, 3,941.48 for S&P
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| Coupon barrier levels: | 8,238.888 for Nasdaq, 1,235.3782 for Russell, 2,759.036 for S&P; 70% of initial levels
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| Barrier levels: | 7,650.396 for Nasdaq, 1,147.1369 for Russell, 2,561.962 for S&P; 65% of initial levels
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| Pricing date: | May 24, 2022
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| Settlement date: | May 31, 2022
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 89114Y2B6
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