Published on 7/22/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $6.96 million digital index-linked notes on S&P 500
Chicago, July 24 – Toronto-Dominion Bank priced $6.96 million of 0% digital index-linked notes due Jan. 23, 2025 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 87.5% of initial level, the payout at maturity will be $1,148.70 per $1,000 principal amount of notes. Otherwise, investors will lose 1.1429% for every 1% that the index declines beyond the 12.5% buffer.
TD Securities (USA) LLC is the agent.
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: | $6,964,000
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Maturity: | Jan. 23, 2025
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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 threshold level, $1,148.70 per $1,000 principal amount of notes; otherwise, 1.1429% loss for every 1% that index declines beyond 12.5% buffer
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Initial index level: | 4,554.98
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Threshold level: | 3,985.6075; 87.5% of initial level
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Pricing date: | July 18
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Settlement date: | July 25
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Agent: | TD Securities (USA) LLC
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Fees: | 0%
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Cusip: | 89115F4K4
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