Published on 8/22/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.28 million contingent barrier digital notes linked to S&P
By Sarah Lizee
Olympia, Wash., Aug. 22 – Toronto-Dominion Bank priced $1.28 million of 0% contingent barrier digital notes due Sept. 2, 2020 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 the barrier level, 85% of the initial index level, the payout at maturity will be par plus 7.2%.
If the final index level is less than the barrier value, investors will lose 1% for every 1% that the index declines from its initial level.
TD Securities (USA) LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Contingent barrier digital notes
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Underlying index: | S&P 500
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Amount: | $1.28 million
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Maturity: | Sept. 2, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater than the barrier level, par plus 7.2%; otherwise, 1% loss for every 1% that the index declines from its initial level
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Initial level: | 2,888.68
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Barrier value: | 2,455.378, 85% of initial level
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Pricing date: | Aug. 16
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Settlement date: | Aug. 21
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Agents: | TD Securities (USA) LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 89114Q5H7
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