Published on 10/4/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $2.04 million market-linked autocalls with contingent downside on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – Toronto-Dominion Bank priced $2.04 million of 0% market-linked autocallable securities with contingent downside due Oct. 6, 2025 linked to the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized 13.95% call premium if each index closes at or above its initial level on any annual observation date.
The payout at maturity will be par unless any index falls by more than 40%, in which case investors will be fully exposed to the decline of the worst performer from its initial level.
TD Securities (USA) LLC and Wells Fargo Securities are the agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Market-linked autocallable securities with contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $2,036,000
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| Maturity: | Oct. 6, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 40% in which case full exposure to decline of worst performer
|
| Call: | Automatically at par plus an annualized 13.95% call premium if each index closes at or above initial level on any annual observation date
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| Initial level: | 28,725.51 for Dow, 1,664.716 for Russell, 10,971.22 for Nasdaq
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| Threshold level: | 17,235.306 for Dow, 998.8296 for Russell, 6,582.732 for Nasdaq; 60% of initial level
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Agents: | TD Securities (USA) LLC and Wells Fargo Securities
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| Fees: | 2.425%
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| Cusip: | 89114YBR1
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