Published on 5/14/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $100,000 digital notes linked to Union Pacific
By Sarah Lizee
Olympia, Wash., May 14 – Toronto-Dominion Bank priced $100,000 of 0% digital notes due May 27, 2021 linked to the common stock of Union Pacific Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to 85% of the initial share price, the payout at maturity will be par of $10,000 plus 9.4%.
If the stock finishes below the 85% buffer price, investors will receive a number of Union Pacific shares equal to $10,000 divided by the buffer price.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Digital notes
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Underlying stock: | Union Pacific Corp.
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Amount: | $100,000
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Maturity: | May 27, 2021
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Coupon: | 0%
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Price: | Par of $10,000
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Payout at maturity: | Par plus 9.4% unless stock falls by more than 15%, in which case 76.3992 Union Pacific shares
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Initial share price: | $153.99
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Buffer price: | $130.8915, 85% of initial level
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Strike date: | May 12
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Pricing date: | May 13
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Settlement date: | May 18
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Agent: | TD Securities (USA) LLC
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Fees: | 1%
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Cusip: | 89114RL87
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