[SCHEDULE 13G/A] Synchronoss Technologies Inc SEC Filing

Rhea-AI Filing Summary

The Toronto-Dominion Bank (TD) is offering US$1.328 million aggregate principal amount of senior unsecured Callable Contingent Interest Barrier Notes (Series H) maturing 15 July 2030. The notes are linked to the least-performing of three major U.S. equity indices—the Dow Jones Industrial Average (INDU), Russell 2000 (RTY) and S&P 500 (SPX)—and embed several features that materially affect risk and return.

• Contingent Interest: Investors receive monthly interest only if, on the related observation date, all three indices close at or above 70 % of their initial levels (the “Contingent Interest Barrier”). The indicative rate is approximately 8.75 % p.a. (≈ 0.7292 % per month). Miss any barrier test and that month’s coupon is permanently forfeited.
• Issuer Call: TD may redeem the notes quarterly, beginning with the 6th interest payment date (about 18 months after issue), at par plus any due coupon. Once called, no further payments accrue, exposing investors to reinvestment risk.
• Principal Repayment: If not called, redemption value on 15 July 2030 depends on the indices’ final levels. Provided every index is at least 60 % of its initial value (the “Barrier Value”), holders receive full principal; otherwise repayment equals $1,000 plus $1,000 × Least Performing Percentage Change, generating a one-for-one loss down to zero.
• Key Terms: Initial Index Levels: INDU 44,650.64; RTY 2,263.410; SPX 6,280.46. Barriers therefore sit at 31,255.448 (70 %) and 26,790.384 (60 %) for INDU, 1,584.387 and 1,358.046 for RTY, and 4,396.322 and 3,768.276 for SPX.
• Economics & Distribution: Public price $1,000 per note; estimated value $980 (reflecting TD’s internal funding rate). TD Securities (USA) receives up to 0.50 % selling concession plus a $2.50 marketing fee on part of the deal. Proceeds to TD: ~$1.322 million.
• Liquidity & Listing: Book-entry (DTC); no exchange listing; secondary market, if any, solely at dealer discretion and expected to be illiquid and below par.
• Credit & Structure Risks: Notes are senior unsecured obligations of TD, not deposits, and are not covered by Canadian or U.S. deposit-insurance schemes. Investors face both TD credit risk and market risk of each underlying index throughout the 5-year term.

The structure targets yield-seeking investors willing to accept contingent income, downside index exposure below a 40 % buffer, early-call uncertainty, and limited liquidity. The small deal size limits market impact, but the note’s complex payoff and below-par estimated value require careful suitability analysis.

Positive

• Attractive headline coupon of approximately 8.75 % p.a. when barriers are respected.
• 40 % downside buffer (Barrier at 60 % of initial level) before principal loss is incurred at maturity.
• Quarterly call feature provides potential early return of capital plus accrued coupon.

Negative

• Principal is at risk; one-for-one loss below 60 % barrier can lead to 100 % capital loss.
• Coupon is contingent; any single index below 70 % barrier cancels that month’s payment.
• Worst-of structure amplifies downside, especially given higher volatility of the Russell 2000.
• Issuer call risk caps upside and exposes investors to reinvestment at lower yields.
• Estimated value ($980) is below issue price, indicating ~2 % initial yield give-up plus selling concessions.
• Illiquidity: unlisted, small size, secondary market only at dealers’ discretion.

Insights

Structured-Products Analyst

TL;DR: High coupon, but contingent and callable; 40 % buffer, full downside beyond; estimated value $980 vs $1,000 price.

The note offers an attractive headline yield of ~8.75 % if all three indices remain above 70 % of initial levels each month. Because performance is driven by the worst index, correlation risk is material; small-cap RTY historically shows higher volatility and could trigger coupon loss or principal impairment. Quarterly issuer call is likely when coupons are being paid and rates fall, capping upside. Investors also pay a ~2 % premium over estimated value, and the note embeds a 0.50 % sales concession plus marketing fees, increasing break-even. Absence of listing and small deal size mean exit liquidity will be poor. In my view, risk-adjusted return is acceptable only for investors comfortable with equity downside and TD credit risk. Overall impact: neutral.

Risk Analyst

TL;DR: Principal at risk, multi-asset worst-of structure, limited recovery paths; high probability of missed coupons in stress.

The 40 % buffer seems generous, yet historical drawdowns show all three indices breached that threshold during major crises (2008, 2020). Because the note looks only at valuation dates, a single 60 % breach at maturity wipes out principal proportionally. Correlation between large-cap and small-cap indices can break down in bear markets, raising likelihood that RTY underperforms. The issuer call creates negative convexity for holders, skewing outcomes toward lower realised yield. Credit-spread widening on TD could further erode secondary prices. I assign a modestly negative rating for risk-conscious portfolios.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Synchronoss Technologies Inc

(Name of Issuer)

Common Stock SH

(Title of Class of Securities)

87157B400

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 87157B400

1

Names of Reporting Persons

Allspring Global Investments Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 524,181.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 541,199.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

541,199.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.7 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Synchronoss Technologies Inc
(b)	Address of issuer's principal executive offices: 200 CROSSING BOULEVARD, 3RD FLOOR, BRIDGEWATER, NJ, 08807
Item 2.
(a)	Name of person filing: Allspring Global Investments Holdings, LLC
(b)	Address or principal business office or, if none, residence: 1415 Vantage Park Drive, Charlotte, 28203, North Carolina, United States
(c)	Citizenship: DELAWARE
(d)	Title of class of securities: Common Stock SH
(e)	CUSIP No.: 87157B400
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 541,199
(b)	Percent of class: 4.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 524,181
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 541,199
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Item 6. Ownership of more than 5 Percent on Behalf of Another Person. The securities as to which this Schedule is filed are owned of record by clients of one or more Investment Advisers identified in Exhibit A directly or indirectly owned by Allspring Global Investments Holdings, LLC. Those Clients have the right to receive, or the power to direct the receipt of, dividends from, or the proceeds for the sale of, such securities. No such client is known to have such right or power with respect to more than five percent of this class of securities, except as follows: None
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit A
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Allspring Global Investments Holdings, LLC

Signature:	Jennifer Grunberg
Name/Title:	Senior Compliance Manager
Date:	07/09/2025

Exhibit Information

Exhibit A Subsidiary Allspring Global Investments, LLC - IA Allspring Funds Management, LLC - IA *Entity beneficially owns 5% or greater of the outstanding shares of the security class being reported on this schedule 13G.

FAQ

What contingent interest rate do TD’s 2025 Callable Barrier Notes (TD) offer?

The notes pay a contingent coupon of approximately 8.75 % per annum (≈ 0.7292 % monthly) when all three indices meet the barrier test.

When can The Toronto-Dominion Bank call the notes?

TD may exercise its issuer call quarterly, starting on the sixth interest payment date (about 18 months after issue) and ending before maturity.

What are the barrier levels for INDU, RTY and SPX?

Contingent interest barrier (70 %): INDU 31,255.448; RTY 1,584.387; SPX 4,396.322. Principal barrier (60 %): INDU 26,790.384; RTY 1,358.046; SPX 3,768.276.

How is principal repaid if a barrier is breached at maturity?

If any index finishes below its 60 % barrier, redemption equals $1,000 plus $1,000 × Least-Performing Percentage Change, producing a 1 % loss for every 1 % decline below initial value.

Why is the estimated value ($980) lower than the $1,000 issue price?

The $980 figure reflects TD’s internal funding rate, dealer commissions and hedging costs; the difference represents structuring and distribution expenses borne by investors.

Are the notes insured or deposit-protected?

No. They are senior unsecured obligations of TD and are not covered by CDIC, FDIC or other insurance schemes.