Published on 9/13/2023 in the Prospect News Structured Products Daily.
New Issue: TD sells $950,000 callable contingent interest barrier notes on S&P, Nasdaq, Russell
Chicago, Sept. 13 – Toronto-Dominion Bank priced $950,000 of callable contingent interest barrier notes due Aug. 31, 2027 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 monthly coupon at an annual rate of 11.5% if each index closes at or above the 70% contingent interest barrier level on the relevant observation date.
The notes will be callable at par plus any coupon due on any monthly observation date after six months.
The payout at maturity will be par each index finishes at or above its 70% 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: | 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: | $950,000
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| Maturity: | Aug. 31, 2027
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| Coupon: | 11.5% annual rate, payable monthly 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 if each index finishes at or above final barrier; otherwise, 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par plus any coupon due on any monthly observation date after six months
|
| Initial levels: | 12,605.17 for Nasdaq, 1,899.83 for Russell, 4,057.66 for S&P
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| Coupon barrier levels: | 8,823.619 for Nasdaq, 1,329.881 for Russell, 2,840.362 for S&P; 70% of initial levels
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| Barrier levels: | 8,823.619 for Nasdaq, 1,329.881 for Russell, 2,840.362 for S&P; 70% of initial levels
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 89114YBK6
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