Published on 11/12/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $25,000 index-linked digital buffered notes on Russell 2000
By William Gullotti
Buffalo, N.Y., Nov. 12 – Toronto-Dominion Bank priced $25,000 of 0% index-linked digital buffered notes due Aug. 2, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 85% buffer level, the payout at maturity will be par plus 11.3%. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Index-linked digital buffered notes
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Underlying index: | Russell 2000 index
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Amount: | $25,000
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Maturity: | Aug. 2, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to the buffer level, par plus 11.3%; otherwise, 1% loss for every 1% that index declines beyond 15%
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Initial index level: | 2,226.246
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Buffer level: | 1,892.3091; 85% of initial level
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Pricing date: | July 30
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Settlement date: | Aug. 4
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Agent: | TD Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 89114TME9
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