Published on 3/6/2017 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $23.22 million buffered digital notes on 25 Euro Stoxx Banks stocks
By Marisa Wong
Morgantown, W.Va., March 6 – Toronto-Dominion Bank priced $23.22 million of 0% buffered digital notes due Feb. 18, 2019 linked to an unequally weighted basket of the ordinary shares of all 25 companies listed in the Euro Stoxx Banks index as of Feb. 6, according to a 424B2 filing with the Securities and Exchange Commission.
The weightings of the companies in the basket are based on the weights of the companies in the index, reweighted so that no company represents more than 5% of the basket as of Feb. 6. The excess weights have been distributed to each of the other companies that represent less than 5% of the index according to their weight in the index, provided that no company can be greater than 5% of the basket.
If the basket return is at least negative 10%, the payout at maturity will be par plus 24.5%. Otherwise, investors will lose 1.1111% for every 1% that the basket declines beyond 10%.
TD Securities (USA) LLC is the underwriter with Goldman Sachs & Co. as agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Buffered digital notes
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| Underlying basket: | Ordinary shares of all 25 companies listed in the Euro Stoxx Banks index as of Feb. 6; weightings of the companies in the basket are based on the weights of the companies in the index, reweighted so that no company represents more than 5% of the basket as of Feb. 6, with excess weights distributed to each of the other companies that represent less than 5% of the index according to their weight in the index, provided that no company can be greater than 5% of the basket
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| Amount: | $23,217,000
|
| Maturity: | Feb. 18, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is at least negative 10%, par plus 24.5%; otherwise, 1.1111% loss for every 1% decline beyond 10%
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| Pricing date: | Feb. 24
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| Settlement date: | March 3
|
| Underwriter: | TD Securities (USA) LLC
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 1.75%
|
| Cusip: | 89114QZK7
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