Published on 4/29/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $5.09 million leveraged capped buffered basket-linked notes on index basket
By William Gullotti
Buffalo, N.Y., April 29 – Toronto-Dominion Bank priced $5.09 million of leveraged capped buffered basket-linked notes due April 24, 2026 linked to an unequally weighted basket of indexes, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 38% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with an 11% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 250% of the basket return, subject to a maximum payout of par plus 37.375%.
Investors will receive par if the basket declines by up to 17.5% and will lose 1.2121% for every 1% decline beyond 17.5%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered basket-linked notes
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Basket components: | Euro Stoxx 50 (38% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (11% weight) and S&P/ASX 200 (8% weight)
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Amount: | $5,085,000
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Maturity: | April 24, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 250% of the basket return, capped at par plus 37.375%; par if the basket declines by 17.5% or less; 1.2121% loss for every 1% drop beyond 17.5%
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Initial levels: | 5,008.17 for Euro Stoxx, 2,666.23 for Topix, 8,044.81 for FTSE, 11,469.15 for Swiss Market, 7,683.511 for S&P/ASX
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Buffer level: | 82.5% of initial basket level
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Pricing date: | April 23
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Settlement date: | April 30
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89115G2E8
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