Published on 1/21/2016 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $13.11 million leveraged capped buffered notes on S&P 500
By Devika Patel
Knoxville, Tenn., Jan. 21 – Toronto-Dominion Bank priced $13,105,000 of leveraged capped buffered notes due April 26, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus double the index return, subject to a maximum payment of $1,240 per $1,000 of notes.
Investors will receive par if the index falls by up to 10% and will lose 1.11% for each 1% decline beyond 10%.
TD Securities (USA) LLC and Goldman, Sachs & Co. are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered notes
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Underlying index: | S&P 500
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Amount: | $13,105,000
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Maturity: | April 26, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus double any index gain, capped at 24%; par if basket falls by up to 10%; 1.11% loss for every 1% drop beyond 10%
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Initial level: | 1,880.33
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Buffer level: | 1,692.297, 90% of the initial level
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Pricing date: | Jan. 15
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Settlement date: | Jan. 25
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Agent: | TD Securities (USA) LLC
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Fees: | 1.96%
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Cusip: | 89114QUM8
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