Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $2.3 million callable contingent interest barrier notes on three indexes
New York, Dec. 12 – Toronto-Dominion Bank priced $2.3 million of callable contingent interest barrier notes due Oct. 30, 2028 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 will pay a contingent monthly coupon at an annual rate of 10% if each index closes at or above the 70% coupon barrier level on the relevant observation date.
The notes may be called at par plus the coupon on any monthly call observation date starting after three months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its 60% 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
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
|
| Amount: | $2.3 million
|
| Maturity: | Oct. 30, 2028
|
| Coupon: | 10% annual rate, payable monthly if each index closes at or above coupon barrier level on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above its barrier value; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call: | At par starting after three months
|
| Initial levels: | 33,035.93 for Dow, 1,651.428 for Russell, 4,186.77 for S&P
|
| Coupon barrier levels: | 23,125.151 for Dow, 1,155.9996 for Russell, 2,930.739 for S&P, 70% of initial levels
|
| Barrier levels: | 19,821.558 for Dow, 990.8568 for Russell, 2,512.062 for S&P, 60% of initial levels
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.5489%
|
| Cusip: | 89115FFF3
|
|
|
|
|
© 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.
