Published on 3/29/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $7.56 million contingent barrier return enhanced notes linked to S&P 500
Chicago, March 30 – Toronto-Dominion Bank priced $7.56 million of 0% contingent barrier return enhanced notes due March 20, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 157.5% of the index return.
If the final index level is less than or equal to the initial index level but greater than or equal to the barrier level, 80% of the initial index level, the payout will be par.
If the final index level is less than the barrier level, investors will lose 1% for every 1% that the index declines from its initial level.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Contingent barrier return enhanced notes
|
| Underlying index: | S&P 500
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| Amount: | $7,557,000
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| Maturity: | March 20, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus 157.5% of index return; if final index level is less than or equal to initial index level but greater than or equal to barrier level, par; if final index level is less than barrier level, 1% loss for every 1% that index declines from initial level
|
| Initial level: | 2,386.13
|
| Final level: | Average of index’s closing levels on five trading days ending March 17, 2025
|
| Barrier level: | 1,908.904, or 80% of initial level
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| Strike date: | March 16
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| Pricing date: | March 17
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| Settlement date: | March 20
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| Agent: | TD Securities (USA) LLC
|
| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 3%
|
| Cusip: | 89114RFP6
|
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