Published on 11/4/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $6.4 million digital notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 4 – Toronto-Dominion Bank priced $6.4 million of 0% digital notes due Nov. 25, 2020 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 negative 10%, the payout at maturity will be par plus 8.01%. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.
TD Securities (USA) LLC is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Digital notes
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Underlying index: | S&P 500
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Amount: | $6,399,000
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Maturity: | Nov. 25, 2020
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 10%, par plus 8.01%; otherwise, 1.1111% loss for every 1% that index declines beyond 10%
|
Initial level: | 3,037.56
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Pricing date: | Oct. 31
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Settlement date: | Nov. 7
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89114R4B9
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