Published on 1/18/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $1 million callable contingent interest barrier notes on Nasdaq, Dow, S&P
By Taylor Fox
New York, Jan. 19 – Toronto-Dominion Bank priced $1 million of callable contingent interest barrier notes due Dec. 29, 2023 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at a quarterly rate of 10% if each index closes at or above the 76% contingent interest barrier level on the observation date for that month.
The notes will be callable at par on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below the 76% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Callable contingent interest barrier notes
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Underlying indexes: | Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index
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Amount: | $1,000,000
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Maturity: | Dec. 29, 2023
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Coupon: | 10% annual rate, payable monthly if each index closes at or above contingent interest barrier level on observation date for that month
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Price: | Par
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Payout at maturity: | Par unless any index finishes below barrier level, in which case 1% loss for each 1% decline of lesser-performing index from initial level
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Call option: | At par on any quarterly observation date after six months
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Initial levels: | 30,129.83 for Dow, 12,653.14 for Nasdaq and 3,690.01 for S&P
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Coupon barrier levels: | 22,898.6708 for Dow, 9,616.3864 for Nasdaq and 2,804.4076 for S&P; 76% of initial levels
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Barrier levels: | 22,898.6708 for Dow, 9,616.3864 for Nasdaq and 2,804.4076 for S&P; 76% of initial levels
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Pricing date: | Dec. 23
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Settlement date: | Dec. 29
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Agent: | TD Securities (USA) LLC
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Fees: | 0.35%
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Cusip: | 89114T4V1
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