Published on 12/7/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.36 million leveraged market-linked notes with downside on basket
By William Gullotti
Buffalo, N.Y., Dec. 7 – Toronto-Dominion Bank priced $1.36 million of 0% market-linked securities – leveraged upside participation and contingent downside due Dec. 5, 2028 tied to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the Euro Stoxx 50 index with a 40% weight and the Nikkei 225 index with a 20% weight.
The payout at maturity will be par plus 165% of any basket gain.
Investors will receive par if the basket falls by up to 30% and will lose 1% for every 1% decline below the initial level if it falls by more than 30%.
TD Securities (USA) LLC and Wells Fargo Securities, LLC are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Market-linked securities – leveraged upside participation and contingent downside
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Underlying basket: | S&P 500 index (40% weight), Euro Stoxx 50 index (40% weight), Nikkei 225 index (20% weight)
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Amount: | $1.36 million
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Maturity: | Dec. 5, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 165% of any basket gain; par if the basket falls by up to 30%; otherwise, 1% loss for every 1% decline from initial level
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Initial index levels: | 4,567.8 for S&P, 4,382.47 for Stoxx, 33,486.89 for Nikkei
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Threshold level: | 70% of initial basket level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 5
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Agents: | TD Securities (USA) LLC and Wells Fargo Securities, LLC
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Fees: | 3.87%
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Cusip: | 89115FH53
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