Published on 1/30/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $40.51 million of autocallable Stars linked to Russell 2000
By William Gullotti
Buffalo, N.Y., Jan. 30 – Toronto-Dominion Bank priced $40.51 million of 0% autocallable Strategic Accelerated Redemption Securities due Jan. 29, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
TD Bank sold 4,051,275 units with a face amount of $10 each, for a total principal amount of $40,512,750. The issuer sold 320,000 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $40,496,750.
The notes will be called at par plus a premium of 11.91% per year if the closing level of the index is greater than or equal to its starting value on any annual observation date.
If the notes are not called at maturity, investors will be fully exposed to the decline of the index.
BofA Securities, Inc. is the agent.
Issuer: | Toronto-Dominion Bank
|
Issue: | Autocallable Strategic Accelerated Redemption Securities
|
Underlying index: | Russell 2000 index
|
Principal amount: | $40,512,750
|
Proceeds: | $40,496,750
|
Maturity: | Jan. 29, 2027
|
Coupon: | 0%
|
Price: | $9.95 per unit for 320,000 units; par of $10 for remainder
|
Payout at maturity: | Full exposure to loss
|
Call: | At par plus premium of 11.91% per year if index closes at or above its initial value on any annual observation date, including maturity
|
Initial value: | 1,975.878
|
Pricing date: | Jan. 25
|
Settlement date: | Feb. 1
|
Agent: | BofA Securities, Inc.
|
Fees: | 1.5% for 320,000 units; 2% for remainder
|
Cusip: | 89116B869
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.