Published on 2/11/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $660,000 contingent interest barrier autocalls on four stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 11 – Toronto-Dominion Bank priced $660,000 of autocallable contingent interest barrier notes due Feb. 1, 2024 linked to the common stock of Amazon.com, Inc., Apple Inc., Netflix, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 14% per year if each stock closes at or above the coupon barrier price, 60% of the initial share price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares of each stock close at or above 100% of the initial share price on any quarterly call observation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the barrier price, 60% of the initial share price, in which case investors will be fully exposed to the decline of the least performing stock.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable contingent interest barrier notes
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| Underlying stocks: | Amazon.com, Inc., Apple Inc., Netflix, Inc. and Microsoft Corp.
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| Amount: | $660,000
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| Maturity: | Feb. 1, 2024
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 14% per year if all shares close at or above coupon barrier price on valuation date
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above final barrier, par plus coupon; otherwise, full exposure to decline of least performing stock
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| Call: | Automatically at par plus contingent coupon if shares of each stock close at or above 100% of initial share price on any quarterly call observation date
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| Initial share prices: | $3,232.58 for Amazon, $142.06 for Apple, $523.28 for Netflix, $232.90 for Microsoft
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| Barrier prices: | $1,939.548 for Amazon, $85.236 for Apple, $313.968 for Netflix, $139.74 for Microsoft, 60% of initial share prices
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| Pricing date: | Jan. 28
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| Settlement date: | Feb. 2
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1.71%
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| Cusip: | 89114T7A4
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