Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $762,000 autocallable contingent interest barrier notes on indexes
Chicago, Feb. 2 – Toronto-Dominion Bank priced $762,000 of autocallable contingent interest barrier notes due Aug. 15, 2024 linked to the least performing of the Russell 2000 index, 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 quarterly coupon at an annual rate of 11.45% if each index closes at or above the 70% coupon barrier level on the relevant observation date.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly call observation date starting after six months.
The payout at maturity will be par plus the final coupon if 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: | Autocallable contingent interest barrier notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $762,000
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| Maturity: | Aug. 15, 2024
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| Coupon: | 11.45% annual rate, payable quarterly if each index closes at or above coupon barrier level on the corresponding observation date
|
| Price: | Par
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| 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: | Automatically at par if each index closes above initial level on any quarterly call observation date after six months
|
| Initial levels: | 13,389.78 for Nasdaq, 1,744.707 for Russell, 4,130.62 for S&P
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| Coupon barrier levels: | 9,372.846 for Nasdaq, 1,221.2949 for Russell, 2,891.434 for S&P, 70% of initial levels
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| Barrier levels: | 9,372.846 for Nasdaq, 1,221.2949 for Russell, 2,891.434 for S&P, 70% of initial levels
|
| Pricing date: | May 11, 2023
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| Settlement date: | May 16, 2023
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.65%
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| Cusip: | 89114YXH9
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