Published on 1/6/2017 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $595,000 leveraged capped buffered notes linked to ETF basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – Toronto-Dominion Bank priced $595,000 of 0% leveraged capped buffered notes due Jan. 4, 2022 linked a basket of six exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the SPDR S&P 500 ETF trust with a 50% weight, iShares Russell 2000 ETF with a 15% weight, iShares MSCI EAFE ETF with a 15% weight, iShares MSCI Emerging Markets ETF with a 10% weight, PowerShares DB Commodity Index Tracking fund with a 5% weight and Vanguard REIT ETF with a 5% weight.
If the basket return is positive, the payout at maturity will be par plus 1.5 times the basket return, subject to a maximum payout of $1,480 per $1,000 principal amount of notes.
Investors will receive par if the basket declines by up to 15% and will be exposed to losses beyond the 15% buffer.
TD Securities (USA) LLC and Wells Fargo Securities LLC are the agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Leveraged capped buffered notes
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| Underlying ETFs: SPDR S&P 500 ETF Trust (50% weight), iShares Russell 2000 ETF (15% weight), iShares MSCI EAFE ETF (15% weight), iShares MSCI Emerging Markets ETF (10% weight), PowerShares DB Commodity Index Tracking fund (5% weight) and Vanguard REIT ETF (5% weight)
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| Amount: | $595,000
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| Maturity: | Jan. 4, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 1.5 times basket return, subject to maximum settlement amount of $1,480 for each $1,000 of notes; par if basket declines by 15% or less; exposure to losses beyond 15%
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| Initial levels: | $224.35 for SPDR S&P 500 ETF Trust, $135.37 for iShares Russell 2000 ETF, $57.53 for iShares MSCI EAFE ETF, $35.26 iShares MSCI Emerging Markets ETF, $15.81 for PowerShares DB Commodity Index Tracking fund and $81.50 for Vanguard REIT ETF
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 4
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| Agents: | TD Securities (USA) LLC, Goldman, Sachs & Co.
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| Fees: | 4.31%
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| Cusip: | 89114QYC6
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