Taiwan Semiconductor Manufacturing • Robinhood Token

Taiwan Semiconductor Manufacturing • Robinhood Token (TSM) is a Robinhood Token issued on Robinhood Chain that gives economic exposure to the TSM American depositary share. Robinhood Assets (Jersey) Limited, a company incorporated in Jersey, is the issuer; its documentation calls these products debt instruments. Taiwan Semiconductor Manufacturing Company (TSMC) is a Taiwan-based contract semiconductor manufacturer; its American depositary shares trade on the New York Stock Exchange under the ticker TSM.

Holding the token is not the same as holding the TSM American depositary share. The product is a debt instrument, so a shareholder's voting and general-meeting rights do not transfer; no such right exists unless the issuer documents it. Robinhood's documentation says the product is not offered in the United States and is restricted in jurisdictions such as Canada, the United Kingdom and Switzerland. Elsewhere, access depends on local rules and the issuer's terms.

On Lzzo.com the value is derived in two steps. First the Chainlink price feed for this token on Robinhood Chain is checked; if it is fresh, its oracle value is used. Otherwise, for example while the underlying market is closed or the oracle is paused around a corporate action, the page shows a reference: the underlying price multiplied by the token multiplier. It is a reference, not a traded price.