Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $12.81 million contingent barrier return enhanced notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, June 28 – Toronto-Dominion Bank priced $12.81 million of 0% contingent barrier return enhanced notes due June 26, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level is greater than the initial level, the payout at maturity will be par plus 1.51 times the gain.
If the index finishes flat or declines up to 25%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% of index decline from its initial level.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Contingent barrier return enhanced notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $12,805,000
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Maturity: | June 26, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.51 times any index gain; if index finishes flat or declines no more than 25%, par; otherwise, full exposure to index decline from initial level
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Initial level: | 4,271.61
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Barrier level: | 3,203.7075; 75% of initial level
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | TD Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 89114YZW4
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