Published on 5/13/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $160,000 digital notes linked to Walt Disney
By Sarah Lizee
Olympia, Wash., May 13 – Toronto-Dominion Bank priced $160,000 of 0% digital notes due May 26, 2021 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the final stock level is greater than or equal to 85% of the initial stock level, the payout at maturity will be par plus 10.4%.
If the stock finishes below the 85% buffer level, investors will lose 1.1765% for every 1% stock decline beyond 15%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Digital notes
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Underlying stock: | Walt Disney Co.
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Amount: | $160,000
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Maturity: | May 26, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 10.4% unless stock falls by more than 15%, in which case 1.1765% loss for every 1% decline beyond 15%
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Initial level: | $109.16
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Buffer level: | $92.786, 85% of initial level
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Strike date: | May 8
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Pricing date: | May 11
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Settlement date: | May 14
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Agent: | TD Securities (USA) LLC
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Fees: | 1%
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Cusip: | 89114RKV7
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