Published on 5/4/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.85 million contingent interest barrier autocalls on Nasdaq, Russell, ETF
By Kiku Steinfeld
Chicago, May 4 – Toronto-Dominion Bank priced $1.85 million of autocallable contingent interest barrier notes due April 21, 2022 linked to the least performing of the iShares MSCI EAFE ETF, the Russell 2000 index and the Nasdaq-100 index, 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 11%if each ETF closes at or above the 75% coupon barrier level on the observation date for that quarter.
The notes will be called at par if each asset closes at or above its initial price on any quarterly observation date other than the final one.
If the notes are not called, the payout at maturity will be par unless any asset finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing asset.
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 assets: | iShares MSCI EAFE ETF, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1.85 million
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| Maturity: | April 21, 2022
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| Coupon: | 11% yearly, payable quarterly if each asset closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below barrier level, in which case 1% loss for each 1% decline of least-performing asset
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| Call: | At par if each asset closes at or above its initial price on any quarterly observation date other than final one
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| Initial levels: | 14,026.19 for Nasdaq, $78.72 for iShares, 2,257.068 for Russell
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| Coupon/barrier levels: | 10,519.6425 for Nasdaq, $59.04 for iShares, 1,692.801 for Russell; 75% of initial levels
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| Pricing date: | April 16
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| Settlement date: | April 21
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| Agent: | TD Securities (USA) LLC
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| Fees: | None
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| Cusip: | 89114TGF3
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