Published on 8/12/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $5.31 million callable contingent interest barrier notes on Amazon, Disney
By William Gullotti
Buffalo, N.Y., Aug. 12 – Toronto-Dominion Bank priced $5.31 million of callable contingent interest barrier notes due Feb. 14, 2023 linked to the common stocks of Amazon.com, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly interest payment at the rate of 7.7501% per year if each stock closes at or above the coupon barrier price, 65% of the initial share price, on the observation date for that period.
The notes may be called at par plus any coupon due on any monthly observation date after three months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the least performing stock finishes below the barrier price, 65% of the initial share price, in which case investors will lose 1% for every 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
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| Underlying stocks: | Amazon.com, Inc., Walt Disney Co.
|
| Amount: | $5,305,000
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| Maturity: | Feb. 14, 2023
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| Coupon: | 7.7501% annual rate, payable monthly if all stocks close at or above barrier price on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any stock finishes below barrier price, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | At par plus any coupon due on any monthly observation date after three months
|
| Initial share prices: | $3,339.81 for Amazon, $291.48 for Disney
|
| Coupon barrier levels: | $2,170.8765 for Amazon, $114.4325 for Disney; 65% of initial levels
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| Barrier levels: | $2,170.8765 for Amazon, $114.4325 for Disney; 65% of initial levels
|
| Strike date: | Aug. 9
|
| Pricing date: | Aug. 10
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| Settlement date: | Aug. 13
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 0.43%
|
| Cusip: | 89114TPR7
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