Published on 5/13/2021 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $50,000 digital buffered notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, May 13 – Toronto-Dominion Bank priced $50,000 of 0% digital buffered notes due May 2, 2024 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 10.6%. 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: | $50,000
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Maturity: | May 2, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is at least negative 15%, par plus 10.6%; otherwise, 1% loss for each 1% decline beyond the 15% buffer
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Initial level: | 2,301.267
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Buffer level: | 1,956.077, 85% of initial level
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Pricing date: | April 27
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Settlement date: | April 30
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Agent: | TD Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 89114TF56
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