Published on 7/23/2021 in the Prospect News Structured Products Daily.
New Issue: TD prices $2.88 million review notes linked to Visa, Facebook, Amazon
By William Gullotti
Buffalo, N.Y., July 23 – Toronto-Dominion Bank priced $2.88 million of 0% review notes due July 18, 2024 linked to the performance of Amazon.com, Inc., Facebook, Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 9.63% per year if each stock closes at or above its initial level on any annual review date.
If the notes are not called and the final level of each stock is greater than or equal to its barrier level, 60% of its initial level, the payout will be par plus 28.89%. Otherwise, investors will lose 1% for each 1% that the least-performing stock declines from its initial level.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Review notes
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| Underlying stocks: | Amazon.com, Inc., Visa Inc., Facebook, Inc.
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| Amount: | $2,875,000
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| Maturity: | July 18, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If notes are not called and final level of each stock is greater than or equal to barrier level, par plus 28.89%; otherwise, 1% loss for each 1% that least-performing stock declines from initial level
|
| Call: | Automatically at par plus call premium of 9.63% per year if each stock closes at or initial level on any annual review date
|
| Initial levels: | $3,631.20 for Amazon, $344.46 for Facebook, $248.55 for Visa
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| Barrier levels: | $2,178.72 for Amazon, $206.676 for Facebook, $149.13 for Visa; 60% of initial levels
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| Strike date: | July 15
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| Pricing date: | July 16
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| Settlement date: | July 21
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| Agents: | TD Securities (USA) LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
|
| Fees: | 0.5%
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| Cusip: | 89114TNH1
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