Published on 10/11/2023 in the Prospect News Structured Products Daily.
New Issue: TD prices $350,000 callable contingent interest barrier notes on Dow, Russell, S&P
Chicago, Oct. 11 – Toronto-Dominion Bank priced $350,000 of callable contingent interest barrier notes due Oct. 8, 2026 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a monthly contingent coupon at an annual rate of 10% if each index closes at or above its 70% contingent interest barrier level on the observation date for that period.
The notes are callable at par monthly starting after six months.
The payout at maturity will be par unless any index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $350,000
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| Maturity: | Oct. 8, 2026
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| Coupon: | 10% annual rate, payable monthly if each index closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless any index finishes below barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par monthly starting after six months
|
| Initial levels: | 33,119.57 for Dow, 1,731.51 for Russell and 4,258.19 for S&P
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| Contingent interest barriers: | 23,183.699 for Dow, 1,212.057 for Russell and 2,980.733 for S&P; 70% of initial levels
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| Barrier levels: | 23,183.699 for Dow, 1,212.057 for Russell and 2,980.733 for S&P; 70% of initial levels
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 10
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 89115FDZ1
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