Published on 8/22/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $570,000 contingent barrier digital notes on Kroger
By Sarah Lizee
Olympia, Wash., Aug. 22 – Toronto-Dominion Bank priced $570,000 of 0% contingent barrier digital notes due Sept. 2, 2020 linked to the common stock of Kroger Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the final stock level is greater than the barrier level, 75% of the initial stock level, the payout at maturity will be par plus 15.3%.
If the final stock level is less than the barrier value, investors will lose 1% for every 1% that the stock 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 stock: | Kroger Co.
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Amount: | $570,000
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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 stock level is greater than the barrier level, par plus 15.3%; otherwise, 1% loss for every 1% that the stock declines from its initial level
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Initial level: | $22.66
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Barrier value: | $16.995, 75% 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: | 89114Q5M6
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