Marketing from back then is misleading,
The Torino got a "Cobra" with the CJ option and was sometimes called a '1969 Cobra', where they dropped the Torino, but not officially. And it is not really a Cobra in the true sense of other ford Cobra's. See add scanned in these links for Cobra parts options that would add on to the Cobra Jet engine:
sums it up about correctly. The VIN tells the story.
Later there was a "King Cobra" prototype on a 1970 car.
As for value, wow, hard to say, they don't sell for much even when restored and clean. You need to find a motor and correct intake/induction/air filter. You will have to spend about $20,000 on the car to get it to decent driver status (just a guess) with the correct engine. But then again, get it and build a nice 445 stroker and never look back, is another option.
Is it a sedan if FB? I personally like the sedan better in this car, but that's me.