Published on 9/15/2021 in the Prospect News Structured Products Daily.
New Issue: TD sells $2.37 million market-linked autocalls with buffered downside on S&P 500
By Kiku Steinfeld
Chicago, Sept. 15– Toronto-Dominion Bank priced $2.37 million of 0% market-linked autocallable securities with fixed percentage buffered downside due Sept. 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a fixed call premium of 4.9% per year if the index closes at or above its initial level on any annual observation date.
The payout at maturity will be par unless the index finishes below 90% of its initial level, in which case investors will be exposed to losses beyond the 10% buffer.
TD Securities (USA) LLC and Wells Fargo Securities LLC are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Market-linked autocallable securities with fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $2,374,000
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Maturity: | Sept. 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 10%, in which case 1% loss for every 1% decline beyond buffer
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Call: | At par plus 4.9% per year fixed premium if index closes at or above initial level on any annual observation date
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Initial level: | 4,522.68
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Threshold level: | 4,070.412, 90% of initial level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 3
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Agents: | TD Securities (USA) LLC and Wells Fargo Securities LLC
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Fees: | 2.825%
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Cusip: | 89114TNV0
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