Published on 4/3/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $353,000 digital buffered notes tied to Russell 2000
By Marisa Wong
Los Angeles, April 3 – Toronto-Dominion Bank priced $353,000 of 0% digital buffered notes due March 29, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is at least negative 15%, the payout at maturity will be par plus the digital return of 27%. Otherwise, investors will lose 1% for each 1% decline beyond the 15% buffer.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Digital buffered notes
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Underlying index: | Russell 2000
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Amount: | $353,000
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Maturity: | March 29, 2023
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index return is at least negative 15%, par plus 27%; otherwise, 1% loss for each 1% decline beyond the 15% buffer
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Initial level: | 1,180.319
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Buffer level: | 1,003.2712, 85% of initial level
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | TD Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 89114REA0
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