Published on 1/4/2023 in the Prospect News Structured Products Daily.
New Issue: TD sells $1.67 million 14.5% autocallable fixed-interest barrier notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Toronto-Dominion Bank priced $1.67 million of 14.5% autocallable fixed-interest barrier notes due Jan. 2, 2025 linked to the least performing of the shares of Thermo Fisher Scientific Inc., Pfizer Inc., HCA Healthcare, Inc. and Moderna, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any monthly call observation date after six months.
The payout at maturity will be par unless any stock finishes below 50% of its initial value, in which case investors will be fully exposed to the losses of the worst performer, paid in shares of that stock.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable fixed-interest barrier notes
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| Underlying stocks: | Thermo Fisher Scientific Inc., Pfizer Inc., HCA Healthcare, Inc. and Moderna, Inc.
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| Amount: | $1,665,000
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| Maturity: | Jan. 2, 2025
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| Coupon: | 14.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier price, in which case full exposure to losses of worst performer, paid in shares of that stock
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| Call: | Automatically at par if each stock closes at or above initial share price on any monthly call observation date after six months
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| Initial share prices: | $545.44 for Thermo Fisher, $51.13 for Pfizer, $180.17 for Moderna, $240.03 for HCA
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| Barrier prices: | $272.72 for Thermo Fisher, $25.565 for Pfizer, $90.085 for Moderna, $120.015 for HCA, 50% of initial share prices
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| Pricing date: | Dec. 27
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| Settlement date: | Dec. 30
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| Agent: | TD Securities (USA) LLC
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| Fees: | 3.497%
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| Cusip: | 89117GDK0
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