Published on 8/1/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $49.73 million of autocallable Stars linked to S&P 500 index
By William Gullotti
Buffalo, N.Y., Aug. 1 – Toronto-Dominion Bank priced $49.73 million of 0% autocallable Strategic Accelerated Redemption Securities due July 31, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 10.24% per year if the closing level of the index is greater than or equal to its starting value on any annual observation date.
If the notes are not called at maturity, investors will be fully exposed to losses.
BofA Securities, Inc. is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable Strategic Accelerated Redemption Securities
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Underlying index: | S&P 500 index
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Amount: | $49,731,570
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Maturity: | July 31, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If not called at maturity, 1% loss for every 1% decline from initial level
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Call: | At par plus premium of 10.24% per year if index closes at or above its initial value on any annual observation date
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Initial value: | 4,537.41
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Pricing date: | July 27
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Settlement date: | Aug. 3
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 89116C578
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