Published on 3/29/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $7.56 million contingent barrier return enhanced notes linked to S&P 500
Chicago, March 30 – Toronto-Dominion Bank priced $7.56 million of 0% contingent barrier return enhanced notes due March 20, 2025 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 initial index level, the payout at maturity will be par plus 157.5% of the index return.
If the final index level is less than or equal to the initial index level but greater than or equal to the barrier level, 80% of the initial index level, the payout will be par.
If the final index level is less than the barrier level, investors will lose 1% for every 1% that the index declines from its initial level.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
Issuer: | Toronto-Dominion Bank
|
Issue: | Contingent barrier return enhanced notes
|
Underlying index: | S&P 500
|
Amount: | $7,557,000
|
Maturity: | March 20, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final index level is greater than initial index level, par plus 157.5% of index return; if final index level is less than or equal to initial index level but greater than or equal to barrier level, par; if final index level is less than barrier level, 1% loss for every 1% that index declines from initial level
|
Initial level: | 2,386.13
|
Final level: | Average of index’s closing levels on five trading days ending March 17, 2025
|
Barrier level: | 1,908.904, or 80% of initial level
|
Strike date: | March 16
|
Pricing date: | March 17
|
Settlement date: | March 20
|
Agent: | TD Securities (USA) LLC
|
Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
Fees: | 3%
|
Cusip: | 89114RFP6
|
|
© 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.