Published on 11/10/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $3.18 million contingent barrier digital notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., Nov. 10 – Toronto-Dominion Bank priced $3.18 million of 0% contingent barrier digital notes due May 8, 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 or equal to the barrier value, 80% of the initial index level, the payout will be par plus 15.25%.
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 is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Contingent barrier digital notes
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Underlying index: | S&P 500 index
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Amount: | $3,183,000
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Maturity: | May 8, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to barrier value, par plus 15.25%; if final index level is less than barrier value, 1% loss for every 1% that index declines from initial level
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Initial level: | 4,358.34
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Barrier value: | 3,486.672; 80% of initial level
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Pricing date: | Nov. 3
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Settlement date: | Nov. 8
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Agent: | TD Securities (USA) LLC
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Fees: | 1.25%
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Cusip: | 89115FG47
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