Published on 5/9/2021 in the Prospect News Structured Products Daily.
New Issue: TD prices $3.86 million callable contingent interest barrier notes on three ETFs
Chicago, May 10 – Toronto-Dominion Bank priced $3.86 million of callable contingent interest barrier notes due March 28, 2024 linked to the least performing of the shares of the SPDR Dow Jones industrial average ETF, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each fund closes at or above the 70% contingent interest barrier level on the observation date for that period.
The notes are callable at par on any quarterly observation date.
The payout at maturity will be par unless any fund finishes below the 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing fund from its initial level.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Callable contingent interest barrier notes
|
| Underlying funds: | SPDR Dow Jones industrial average ETF, iShares Russell 2000 ETF and SPDR S&P 500 ETF Trust
|
| Amount: | $3,860,000
|
| Maturity: | March 28, 2024
|
| Coupon: | 7% annual rate, payable quarterly if each fund closes at or above contingent interest barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing fund from initial level
|
| Call: | At par on any quarterly observation date
|
| Initial levels: | $324.06 for Dow, $217.06 for Russell, $389.50 for S&P
|
| Coupon barrier levels: | $226.842 for Dow, $151.942 for Russell, $272.65 for S&P; 70% of initial levels
|
| Barrier levels: | $210.639 for Dow, $141.089 for Russell, $253.175 for S&P; 65% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 26
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 2.0734%
|
| Cusip: | 89114TEH1
|
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