Published on 2/7/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $5.92 million Stars with enhanced buffer linked to Russell 2000
By William Gullotti
Buffalo, N.Y., Feb. 7 – Toronto-Dominion Bank priced $5.92 million of 0% Strategic Accelerated Redemption Securities with enhanced buffer due Feb. 27, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 9.9% per year if the closing level of the index is greater than or equal to its threshold level, 95% of initial value, on any annual observation date.
If the notes are not called, investors will lose 1% for each 1% decline in the index beyond 5%.
BofA Securities, Inc. is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Strategic Accelerated Redemption Securities with enhanced buffer
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Underlying index: | Russell 2000 index
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Amount: | $5,921,880
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Maturity: | Feb. 27, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If not called, 1% loss for every 1% decline beyond 5%
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Call: | At par plus premium of 9.9% per year if index closes at or above its threshold level on any annual observation date
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Initial value: | 2,001.221
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Threshold level: | 1,901.16; 95% of initial value
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Pricing date: | Feb. 2
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Settlement date: | Feb. 9
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 89116C206
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