Published on 3/5/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $350,000 more digital notes linked to Euro Stoxx Banks
By Wendy Van Sickle
Columbus, Ohio, March 5 – Toronto-Dominion Bank priced a $350,000 add-on to its 0% digital notes due March 30, 2022 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to 90% of the initial index level, the payout at maturity will be $1,154.50 per $1,000 of notes.
If the index finishes below the 90% threshold level, investors will lose 1.1111% for every 1% index decline beyond the 10% buffer.
The company priced $11,075,000 of the notes in an original issuance that settled on March 5.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
|
Issue: | Digital notes
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Underlying index: | Euro Stoxx Banks index
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Amount: | $350,000 add-on
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Total issue: | $11,425,000, includes $11,075,000 priced March 1 and settled March 5
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Maturity: | March 30, 2022
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Coupon: | 0%
|
Price: | 100.62% for total proceeds of $352,170
|
Payout at maturity: | $1,154.50 per $1,000 of notes unless index falls by more than 10%, in which case 1.1111% loss for every 1% decline beyond 10%
|
Initial level: | 83.88
|
Threshold level: | 75.492, 90% of initial level
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Pricing date: | March 1
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Settlement date: | March 5
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Agent: | TD Securities (USA) LLC
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Fees: | 0.93%
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Cusip: | 89114TBJ0
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