Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: TD sells $400,000 callable contingent interest buffer notes on S&P, Nasdaq, Russell
Chicago, April 15 – Toronto-Dominion Bank priced $400,000 of callable contingent interest buffer notes due Jan. 24, 2031 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.1% if each index closes at or above the 75% contingent interest barrier level on the relevant observation date.
The notes will be callable at par plus any coupon due on any monthly contingent coupon date starting after six months.
The payout at maturity will be par plus the final coupon if each index finishes at or above its 85% buffer level. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index beyond 15%.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Callable contingent interest buffer notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $400,000
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| Maturity: | Jan. 24, 2031
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| Coupon: | 8.1% annual rate, payable monthly if each index closes at or above contingent interest barrier level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above buffer level; otherwise, 1% loss for each 1% decline of least-performing index below buffer level
|
| Call: | At par plus any coupon due on any monthly contingent coupon date at issuer’s option starting after six months
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| Initial levels: | 17,314 for Nasdaq, 1,944.391 for Russell, 4,839.81 for S&P
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| Coupon barrier levels: | 12,985.50 for Nasdaq, 1,458.2933 for Russell, 3,629.8575 for S&P; 75% of initial levels
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| Buffer levels: | 14,716.90 for Nasdaq, 1,652.7324 for Russell, 4,113.8385 for S&P; 85% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | TD Securities (USA) LLC
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| Fees: | 0.75%
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| Cusip: | 89115FPL9
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