Published on 9/20/2020 in the Prospect News Structured Products Daily.
New Issue: TD prices $1 million 7.44% fixed-interest barrier notes on BofA, Costco
By Kiku Steinfeld
Chicago, Sept. 21 – Toronto-Dominion Bank priced $1 million of 7.44% fixed-interest barrier notes due Sept. 15, 2022 linked to common stocks Bank of America Corp. and Costco Wholesale Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless any stock finishes below its barrier level, 60% of its initial level, in which case investors will be fully exposed to the laggard stock’s decline.
TD Securities (USA) LLC is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Fixed-interest barrier notes
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Underlying stocks: | Bank of America Corp. and Costco Wholesale Corp.
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Amount: | $1 million
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Maturity: | Sept. 15, 2022
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Coupon: | 7.44%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its barrier level, in which case investors will be fully exposed to the laggard stock’s decline
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Initial levels: | $25.51 for BofA, $346.43 for Costco
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Barrier levels: | $15.31 for BofA, $207.86 for Costco, 60% of initial levels
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Pricing date: | Sept. 10
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Settlement date: | Sept. 15
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Agent: | TD Securities (USA) LLC
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Fees: | 0.4%
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Cusip: | 13605WE72
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