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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Toronto Dominion Bank | NYSE:TD | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.63 | -1.06% | 58.69 | 59.405 | 58.68 | 59.08 | 2,792,323 | 00:54:08 |
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Filed Pursuant to Rule 433
Registration Statement No. 333-231751
Dated November 30, 2020
|
Market Linked
Securities - Auto-Callable with Fixed Percentage Buffered Downside
Principal at Risk Securities Linked to the S&P 500® Index due December
9, 2024
Term Sheet to Pricing Supplement dated November 30,
2020
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Issuer
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The Toronto-Dominion Bank (“TD”)
|
||
Issue
|
Senior Debt Securities, Series E
|
||
Term
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Approximately 4 years, subject to an automatic call
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Reference Asset:
|
S&P 500® Index
|
||
Pricing Date
|
November 30, 2020*
|
||
Issue Date
|
December 4, 2020*
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Principal Amount
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$1,000 per Security
|
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Issue Price
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$1,000 per Security except that certain investors that purchase for certain fee based advisory accounts may purchase for not less than $971.75 per Security.
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Automatic Call
Feature
|
If the Closing Level of the Reference Asset on any Call Date (including the Final Valuation Date) is greater than or equal to the Initial Level, the Securities will be automatically called
for the Principal Amount plus the Call Premium applicable to the relevant Call Date. See “Call Dates and Call Premiums” on page 3
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||
Call Dates
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December 3, 2021; December 5, 2022; December 4, 2023 and December 2, 2024
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Call Payment Dates
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Five business days following the applicable Call Date (if the Securities are called on the last Call Date, the Call Payment will be the Maturity Date)
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Payment at
Maturity
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See “How the Payment at Maturity is Calculated” on page 3
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Maturity Date
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December 9, 2024
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Initial Level
|
3,621.63, which is the closing level of the Reference Asset on the Pricing Date
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Final Level
|
The closing level of the Reference Asset on the Final Valuation Date
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Buffer Level
|
3,259.467, which is 90.00% of the Initial Level (equal to the Initial Level multiplied by the difference of 100.00% minus the Buffer Percentage).
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Buffer Percentage
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10.00%
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Percentage Change
|
(Final Level – Initial Level) / Initial Level, expressed as a percentage
|
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Final Valuation
Date
|
December 2, 2024, which is also the final Call Date
|
||
Calculation Agent
|
TD
|
||
Minimum
Investment
|
$1,000 and minimum denominations of $1,000 in excess thereof
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Agents
|
TD Securities (USA) LLC and Wells Fargo Securities, LLC
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Underwriting
Discount and
Commission
|
2.825% to Agents, of which dealers, including Wells Fargo Advisors, LLC (“WFA”), will receive a selling concession of 1.75% and WFA will receive a distribution expense fee of 0.075%.
We may pay a fee of up to $1.00 per security for certain Securities sold in this offering to selected securities dealers in consideration for marketing and other services in connection
with the distribution of the Securities to other securities dealers.
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CUSIP / ISIN
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89114RWB8 / US89114RWB85
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*Delivery of the Securities will be made against payment therefor on the 4th business day following the Pricing Date (this settlement cycle being referred to as “T+4”). Under
Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in 2 business days (“T+2”), unless the parties to any such trade expressly agree otherwise. Accordingly,
purchasers who wish to trade the Securities on the Pricing Date will be required, by virtue of the fact that each Security initially will settle in 4 business days (T+4), to specify alternative settlement arrangements to prevent a failed
settlement.
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• |
Linked to the S&P 500® Index
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• |
Unlike ordinary debt securities, the Securities do not pay interest or repay a fixed amount of principal at maturity. Instead, the Securities are subject to potential automatic call upon the terms described
below. Any return you receive on the Securities and whether they are automatically called will depend on the performance of the Reference Asset.
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• |
Automatic Call Feature. If the Closing Level of the Reference Asset on any Call Date (including the Final Valuation Date) is greater than or equal to the Initial Level,
the Securities will be automatically called, and on the related Call Payment Date you will receive the Principal Amount plus the Call Premium applicable to the relevant Call Date.
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• |
Payment at Maturity. If the Securities are not automatically called on any Call Date (including the Final Valuation Date), on the Maturity Date, we will pay a cash
payment per Security equal to:
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• |
If the Final Level is less than the Initial Level but greater than or equal to the Buffer Level:
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• |
If the Final Level is less than the Buffer Level:
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• |
Investors may lose up to 90.00% of the Principal Amount.
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• |
Any positive return on the Securities will be limited to the applicable Call Premium.
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• |
Any payments on the Securities are subject to TD’s credit risk
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• |
You will have no right to the stocks comprising the Reference Asset (the “Reference Asset Constituents”)
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• |
No periodic interest payments or dividends
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• |
No exchange listing; designed to be held to maturity
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TD SECURITIES (USA) LLC
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WELLS FARGO SECURITIES, LLC
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Hypothetical Call Date on which
Securities are automatically
called
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Payment per Security on
related Call Payment
Date
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Pre-Tax Return on
Securities
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1st Call Date
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$1,050.00
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5.00%
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2nd Call Date
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$1,100.00
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10.00%
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3rd Call Date
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$1,150.00
|
15.00%
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4th Call Date
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$1,200.00
|
20.00%
|
Hypothetical Final
Level
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Hypothetical Percentage
Change
|
Hypothetical Payment at
Maturity per Security
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Hypothetical Pre-
Tax Return on
Securities
|
95.00
|
-5.00%
|
$1,000.00
|
0.00%
|
90.00
|
-10.00%
|
$1,000.00
|
0.00%
|
85.00
|
-15.00%
|
$950.00
|
-5.00%
|
75.00
|
-25.00%
|
$850.00
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-15.00%
|
50.00
|
-50.00%
|
$600.00
|
-40.00%
|
25.00
|
-75.00%
|
$350.00
|
-65.00%
|
0.00
|
-100.00%
|
$100.00
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-90.00%
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Call Date
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Call Premium
|
Payment per Security upon
an Automatic Call
|
December 3, 2021
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5.00% of the Principal Amount
|
$1,050.00
|
December 5, 2022
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10.00% of the Principal Amount
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$1,100.00
|
December 4, 2023
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15.00% of the Principal Amount
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$1,150.00
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December 2, 2024*
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20.00% of the Principal Amount
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$1,200.00
|
• |
If the Final Level is less than the Initial Level but greater than or equal to the Buffer Level:
|
• |
If the Final Level is less than the Buffer Level:
|
• |
Principal at Risk. The Securities do not guarantee the return of the Principal Amount and investors may lose up to 90.00% of their entire
investment in the Securities if the Securities are not automatically called and there is a decline in the level of the Reference Asset by more than 10.00% from the Pricing Date to the Final Valuation Date. Specifically, if the Securities
are not automatically called and the Final Level is less than the Buffer Level, investors will lose 1% of the Principal Amount of the Securities for each 1% that the Final Level is less than the Initial Level by more than 10.00%, and may
lose up to 90.00% of the Principal Amount.
|
• |
The Downside Market Exposure to the Reference Asset is Buffered Only at Maturity.
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• |
You Will Receive No Positive Return on the Securities If the Securities Are Not Automatically Called.
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• |
Your Potential Positive Return on the Securities Will Be Limited to the Applicable Call Premium Paid on the Securities, If Any, Regardless of Any Increase in the Level of the Reference Asset And May Be Less Than
the Return on a Hypothetical Direct Investment in the Reference Asset.
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• |
The Securities Do Not Pay Interest and Your Return on the Securities May Be Less Than the Return on a Conventional Debt Security of Comparable Maturity.
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• |
The Securities May Be Automatically Called Prior to the Maturity Date And Are Subject to Reinvestment Risk.
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• |
The Amount Payable on the Securities is Not Linked to the Level of the Reference Asset at Any Time Other Than on the Call Dates (Including the Final Valuation Date).
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• |
The Call Premiums Will Reflect, In Part, the Volatility of the Reference Asset and May Not Be Sufficient to Compensate You for the Risk of Loss at Maturity.
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• |
There Are Market Risks Associated with the Reference Asset.
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• |
We Have No Affiliation with the Index Sponsor and Will Not Be Responsible for Any Actions Taken by the Index Sponsor.
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• |
The Reference Asset is Price Return Only and You Will Not Have Any Rights to the Reference Asset Constituents.
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• |
Past Reference Asset Performance is No Guide to Future Performance.
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• |
The Estimated Value of Your Securities Is Less Than the Public Offering Price of Your Securities.
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• |
The Estimated Value of Your Securities Is Based on Our Internal Funding Rate.
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• |
The Estimated Value of the Securities Is Based on Our Internal Pricing Models; Which May Prove to Be Inaccurate and May Be Different from the Pricing Models of Other Financial Institutions.
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• |
The Estimated Value of Your Securities Is Not a Prediction of the Prices at Which You May Sell Your Securities in the Secondary Market, if Any, and Such Secondary Market Prices, if Any, Will Likely Be Less Than
the Public Offering Price of Your Securities and May Be Less Than the Estimated Value of Your Securities.
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• |
The Temporary Price at Which We May Initially Buy the Securities in the Secondary Market May Not Be Indicative of Future Prices of Your Securities.
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• |
The Agent Discount, Offering Expenses and Certain Hedging Costs Are Likely to Adversely Affect Secondary Market Prices.
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• |
There May Not Be an Active Trading Market for the Securities — Sales in the Secondary Market May Result in Significant Losses.
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• |
If the Level of the Reference Asset Changes, the Market Value of Your Securities May Not Change in the Same Manner.
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• |
There Are Potential Conflicts of Interest Between You and the Calculation Agent.
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• |
Each Call Date (including the Final Valuation Date) and the Potential Call Payment Date (including the Maturity Date) is Subject to Market Disruption Events and Postponements.
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• |
Trading and Business Activities by TD or its Affiliates May Adversely Affect the Market Value of, and Any Amount Payable on, the Securities.
|
• |
Investors Are Subject to TD’s Credit Risk, and TD’s Credit Ratings and Credit Spreads May Adversely Affect the Market Value of the Securities.
|
• |
Significant Aspects of the Tax Treatment of the Securities Are Uncertain.
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TD SECURITIES (USA) LLC
|
4 |
WELLS FARGO SECURITIES, LLC
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1 Year Toronto Dominion Bank Chart |
1 Month Toronto Dominion Bank Chart |
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