Published on 3/2/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $7.57 million contingent barrier return enhanced notes on S&P 500
By William Gullotti
Buffalo, N.Y., March 2 – Toronto-Dominion Bank priced $7.57 million of 0% contingent barrier return enhanced notes due March 1, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level is greater than the initial level, the payout at maturity will be par plus 1.1534 times the gain.
If the index finishes flat or declines up to 20%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% of index decline from its initial level.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Contingent barrier return enhanced notes
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Underlying index: | S&P 500 index
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Amount: | $7.57 million
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Maturity: | March 1, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.1534 times any index gain; if index finishes flat or declines no more than 20%, par; otherwise, full exposure to index decline from initial level
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Initial level: | 4,288.7
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Barrier level: | 3,430.96; 80% of initial level
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Strike date: | Feb. 24
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Pricing date: | Feb. 25
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Settlement date: | March 3
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Agent: | TD Securities (USA) LLC
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Fees: | 3%
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Cusip: | 89114V5J2
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