Published on 9/25/2006 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.414 million 9% notes linked to FedEx
By Jennifer Chiou
New York, Sept. 25 - TD Bank Financial Group priced a $1.414 million issue of 9% notes due Sept. 28, 2007 linked to the common stock of FedEx Corp., according to a 424B5 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless FedEx stock falls below the limit price - 80% of the initial share price - during the life of the notes and finishes below its initial share price, in which case payout will be a number of FedEx shares equal to $1,000 divided by the initial share price.
TD Securities (USA) LLC will be the agent for the offering.
| Issuer: | TD Bank Financial Group
|
| Issue: | Equity-linked notes
|
| Underlying stock: | FedEx Corp.
|
| Amount: | $1.414 million
|
| Coupon: | 9%, payable quarterly
|
| Maturity: | Sept. 28, 2007
|
| Payout at maturity: | If FedEx stock closes below the limit price of $84.82 at any time up to and including the Sept. 24, 2007 valuation date and closes below the initial price, 9 shares of FedEx stock and cash value of 0.4313 shares; otherwise par in cash
|
| Exchange ratio: | 9.4313
|
| Initial price: | $106.03
|
| Limit price: | $84.82 (80% of initial price)
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 27
|
| Underwriter: | TD Securities
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