Published on 4/21/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $2.28 million digital notes linked to Wynn Resorts
By Sarah Lizee
Olympia, Wash., April 21 – Toronto-Dominion Bank priced $2.28 million of 0% digital notes due April 30, 2021 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
If the final stock level is greater than or equal to 65% of the initial stock level, the payout at maturity will be par plus 23.5%.
If the stock finishes below the 65% buffer level, investors will lose 1.5385% for every 1% stock decline beyond 35%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Digital notes
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Underlying stock: | Wynn Resorts, Ltd.
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Amount: | $2,275,000
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Maturity: | April 30, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final stock level is greater than or equal to 65% of the initial stock level, par plus 23.5%; if the stock finishes below the 65% buffer level, investors will lose 1.5385% for every 1% stock decline beyond 35%
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Initial level: | $74.48
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Buffer level: | $48.412, 65% of initial level
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Strike date: | April 14
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Pricing date: | April 15
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Settlement date: | April 20
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Agent: | TD Securities (USA) LLC
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Fees: | 1%
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Cusip: | 89114RJM9
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