Published on 6/22/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1 million contingent absolute return buffered notes on three indexes
By William Gullotti
Buffalo, N.Y., June 22 – Toronto-Dominion Bank priced $1 million of 0% contingent absolute return buffered notes due June 21, 2027 linked to the performance of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 130% of any gain of the least performing index.
If the worst performer declines no more than 20%, the payout at maturity will be par plus the absolute value of that index’s return. Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 20%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Contingent absolute return buffered notes
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Underlying indexes: | Russell 2000 index, Dow Jones industrial average, S&P 500 index
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Amount: | $1 million
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Maturity: | June 21, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% of any gain of worst performer; if worst performer declines no more than 20%, par plus the absolute value of that index’s return; otherwise, 1 % loss for each 1% decline of the worst performer beyond 20%
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Initial levels: | 30,516.74 for Dow, 1,714.595 for Russell, 3,749.63 for S&P
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Buffer levels: | 24,413.392 for Dow, 1,371.676 for Russell, 2,999.704 for S&P; 80% of initial levels
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Strike date: | June 13
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Pricing date: | June 15
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Settlement date: | June 21
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Agent: | TD Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 89114Y5C1
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