Published on 4/24/2024 in the Prospect News Structured Products Daily.
New Issue: TD sells $996,000 digital index-linked notes on S&P 500
By Kiku Steinfeld
Chicago, April 24 – Toronto-Dominion Bank priced $996,000 of 0% digital index-linked notes due Jan. 29, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 87.5% threshold level, the payout at maturity will be $1,150.90 per $1,000 principal amount of notes.
Otherwise, investors will lose 1.1429% for every 1% that the index declines beyond 12.5%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Digital index-linked notes
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Underlying index: | S&P 500
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Amount: | $996,000
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Maturity: | Jan. 29, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index closes at or above its 87.5% threshold, par plus $1,150.90 per $1,000 principal amount of notes; otherwise, 1.1429% loss for every 1% that the index declines beyond 12.5%
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Initial index level: | 4,537.41
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Buffer level: | 3,970.23375, 87.5% of initial level
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Pricing date: | July 27, 2023
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Settlement date: | Aug. 3, 2023
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89115F4C2
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