Published on 5/27/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $2.5 million digital index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., May 27 – Toronto-Dominion Bank priced $2.5 million of 0% digital index-linked notes due June 22, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to 60% of initial level, the payout at maturity will be $1,040 per $1,000 principal amount of notes. Otherwise, investors will lose 1.6667% for every 1% that the index declines beyond 40%.
TD Securities (USA) LLC is the agent with Simon Markets LLC as dealer.
Issuer: | Toronto-Dominion Bank
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Issue: | Digital index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $2.5 million
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Maturity: | June 22, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above buffer level, $1,040 per $1,000 principal amount of notes; otherwise, 1.6667% loss for every 1% that index declines beyond 40%
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Initial index level: | 3,901.36
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Buffer level: | 2,340.816; 60% of initial level
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Pricing date: | May 20
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Settlement date: | May 27
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Agent: | TD Securities (USA) LLC
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Dealer: | Simon Markets LLC
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Fees: | 1.06%
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Cusip: | 89114Y3K5
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