Published on 5/13/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $935,000 autocallable contingent interest barrier notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, May 13 – Toronto-Dominion Bank priced $935,000 of autocallable contingent interest barrier notes due May 2, 2024 linked to the least performing of the stocks of Apple Inc., Amazon.com, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 16.6% if each stock closes at or above the 50% contingent interest barrier level on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any stock finishes below the 50% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing stock from its initial level.
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 stockes: | Apple Inc., Amazon.com, Inc. and Tesla, Inc.
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| Amount: | $935,000
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| Maturity: | May 2, 2024
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| Coupon: | 16.6% annual rate, payable quarterly if each stock closes at or above contingent interest barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier level, in which case 1% loss for each 1% decline of least-performing stock from initial level
|
| Call: | At par if each stock closes at or above its initial level on any quarterly observation date after six months
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| Initial levels: | $134.39 for Apple $3,417.43 for Amazon, $704.74 for Tesla
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| Coupon barrier levels: | $67.195 for Apple $1,708.715 for Amazon, $352.37 for Tesla; 50% of initial levels
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| Barrier levels: | $67.195 for Apple $1,708.715 for Amazon, $352.37 for Tesla; 50% of initial levels
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | TD Securities (USA) LLC
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| Fees: | 2.935%
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| Cusip: | 89114TFH0
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