Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $2.53 million digital notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 28 – Toronto-Dominion Bank priced $2.53 million of 0% digital notes due July 10, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to 85% of initial level, the payout at maturity will be $1,086 per $1,000 principal amount of notes. Otherwise, investors will lose 1.1765% 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: | Digital notes
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Underlying index: | S&P 500 index
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Amount: | $2,525,000
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Maturity: | July 10, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above buffer level, $1,086 per $1,000 principal amount of notes; otherwise, 1.1765% loss for every 1% that index declines beyond 15%
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Initial index level: | 4,384.33
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Buffer level: | 3,696.0805; 85% of initial level
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | TD Securities (USA) LLC
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Fees: | 1%
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Cusip: | 89114YZR5
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