Published on 11/16/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $300,000 digital buffered notes on Russell 2000
By Kiku Steinfeld
Chicago, Nov.16 – Toronto-Dominion Bank priced $300,000 of 0% digital buffered notes due Oct. 31, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is at least negative 15%, the payout at maturity will be par plus the digital return of 10.9%. Otherwise, investors will lose 1% for each 1% decline beyond the 15% buffer.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Digital buffered notes
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Underlying index: | Russell 2000
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Amount: | $300,000
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Maturity: | Oct. 31, 2023
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index return is at least negative 15%, par plus 10.9%; otherwise, 1% loss for each 1% decline beyond the 15% buffer
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Initial level: | 1,590.482
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Buffer level: | 1,351.9097, 85% of initial level
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Pricing date: | Oct. 27
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Settlement date: | Oct. 30
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Agent: | TD Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 89114RTX4
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