Published on 6/21/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $160,000 autocallable contingent interest barrier notes on tech stocks
By William Gullotti
Buffalo, N.Y., June 21 – Toronto-Dominion Bank priced $160,000 of autocallable contingent interest barrier notes due May 30, 2024 linked to the common stocks of Apple Inc., Amazon.com, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Quarterly, the notes will pay a contingent interest payment at the rate of 16.5% per year if each stock closes at or above the coupon barrier price, 60% of the initial share price, on the observation date for that period.
The notes will be called at par plus coupon if each stock closes at or above its initial price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the least performing stock finishes below the barrier price, 60% of the initial share price, in which case investors will be fully exposed to the laggard stock’s decline.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable contingent interest barrier notes
|
| Underlying stocks: | Apple Inc., Amazon.com, Inc., Tesla, Inc.
|
| Amount: | $160,000
|
| Maturity: | May 30, 2024
|
| Coupon: | 16.5% annual rate, payable quarterly if each stock closes at or above coupon barrier level on relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier price, in which case full exposure to laggard stock’s decline
|
| Call: | Automatically at par plus coupon if each stock closes at or above its initial level on any quarterly observation date
|
| Initial share prices: | $127.10 for Apple, $3,244.99 for Amazon, $606.44 for Tesla
|
| Coupon barrier levels: | $76.26 for Apple, $1,946.994 for Amazon, $363.864 for Tesla; 60% of initial levels
|
| Barrier levels: | $76.26 for Apple, $1,946.994 for Amazon, $363.864 for Tesla; 60% of initial levels
|
| Pricing date: | May 24
|
| Settlement date: | May 28
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 89114TH47
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
