Published on 8/24/2018 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.22 million leveraged barrier notes tied to Russell 2000, S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 24 – Toronto-Dominion Bank priced $1.22 million of 0% leveraged barrier notes due Aug. 24, 2023 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 202% of any gain in the worse performing index.
If the worse performing index falls by up to 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index below its initial level.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged barrier notes
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Underlying indexes: | S&P 500 index, Russell 2000
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Amount: | $1,215,000
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Maturity: | Aug. 24, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 202% times any gain of lesser performing index; par if worse performing index falls by up to 10%; otherwise, full exposure to loss of lesser performing index
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Initial levels: | 1,722.542 for Russell, 2,861.82 for S&P
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Barrier levels: | 1,550.288 for Russell, 2,575.64 for S&P, 90% of initial levels
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Pricing date: | Aug. 22
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Settlement date: | Aug. 27
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Agent: | TD Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 89114QQK7
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