Published on 4/17/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $3.13 million contingent barrier digital notes linked to S&P 500
By Kiku Steinfeld
Chicago, April 17 – Toronto-Dominion Bank priced $3.13 million of 0% contingent barrier digital notes due July 31, 2024 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 the barrier value, 75% of the initial index level, the payout will be par plus 8.3%.
If the final index level is less than the barrier value, investors will lose 1% for every 1% that the index declines from its initial level.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Contingent barrier digital notes
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Underlying index: | S&P 500 index
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Amount: | $3,125,000
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Maturity: | July 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to barrier value, par plus 8.3%; if final index level is less than barrier value, 1% loss for every 1% that index declines from initial level
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Initial level: | 4,505.42
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Barrier level: | 3,379.065, or 75% of initial level
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Pricing date: | July 14, 2023
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Settlement date: | July 19, 2023
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Agent: | TD Securities (USA) LLC
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Fees: | 1%
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Cusip: | 89115F4B4
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