Published on 3/17/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $10.95 million digital notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 17 – Toronto-Dominion Bank priced $10.95 million 0% digital notes due April 27, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to 87.5% of the initial index level, the payout at maturity will be $1,080.70 per $1,000 of notes.
If the index finishes below the 87.5% threshold level, investors will lose 1.1429% for every 1% index decline beyond the 12.5% buffer.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Digital notes
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Underlying index: | S&P 500 index
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Amount: | $10,945,000
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Maturity: | April 27, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | $1,080.70 per $1,000 of notes unless index falls by more than 12.5%, in which case 1.1429% loss for every 1% decline beyond 12.5%
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Initial level: | 3,939.34
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Threshold level: | 3,446.9225, 87.5% of initial level
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Pricing date: | March 11
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Settlement date: | March 18
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Agent: | TD Securities (USA) LLC
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Fees: | 0%
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Cusip: | 89114TDC3
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