Published on 1/25/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $20.01 million digital buffered notes on S&P 500
By Sarah Lizee
Olympia, Wash., Jan. 25 – Toronto-Dominion Bank priced $20.01 million of 0% digital buffered notes due Jan. 26, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is at least negative 20%, the payout at maturity will be par plus the digital return of 19.49%. Otherwise, investors will lose 1% for each 1% decline beyond the 20% 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: | S&P 500
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Amount: | $20,008,000
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Maturity: | Jan. 26, 2022
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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 20%, par plus 19.49%; otherwise, 1% loss for each 1% decline beyond the 20% buffer
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Initial level: | 2,638.70
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Buffer level: | 2,110.96, 80% of initial level
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Pricing date: | Jan. 23
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Settlement date: | Jan. 28
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Agent: | TD Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 89114QHY7
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