New Issue: TD Bank sells $6.88 million digital notes linked to S&P 500

By Marisa Wong

Los Angeles, July 6 – Toronto-Dominion Bank priced $6.88 million of 0% digital notes due Nov. 3, 2021 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 or equal to 80% of the initial index level, the payout at maturity will be par plus 8.75%.

If the index finishes below the 80% threshold level, investors will lose 1.25% for every 1% index decline beyond 20%.

TD Securities (USA) LLC is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Digital notes
Underlying index:	S&P 500 index
Amount:	$6.88 million
Maturity:	Nov. 3, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 8.75% unless index falls by more than 20%, in which case 1.25% loss for every 1% decline beyond 20%
Initial level:	3,050.33
Threshold level:	2,440.264, 80% of initial level
Pricing date:	June 24
Settlement date:	July 1
Agent:	TD Securities (USA) LLC
Fees:	0.99%
Cusip:	89114RMW3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.