Published on 12/29/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $9.02 million Accelerated Return Notes on financial stock basket
By William Gullotti
Buffalo, N.Y., Dec. 29 – Toronto-Dominion Bank priced $9.02 million of 0% Accelerated Return Notes due Feb. 28, 2025 linked to an equally weighted basket of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is composed of Goldman Sachs Group, Inc. with an initial weight of 33.34%, JPMorgan Chase & Co. with an initial weight of 33.33% and Morgan Stanley with an initial weight of 33.33%.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum payout of par plus 23.4%.
Investors will be exposed to any basket decline.
BofA Securities, Inc. is the agent.
Issuer: | Toronto-Dominion Bank
|
Issue: | Accelerated Return Notes
|
Underlying basket: | Goldman Sachs Group, Inc. (33.34% weight), JPMorgan Chase & Co. (33.33%), Morgan Stanley (33.33%)
|
Amount: | $9,016,230
|
Maturity: | Feb. 28, 2025
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 300% of any basket gain, capped at par plus 23.4%; full exposure to any basket decline
|
Initial level: | $380.57 for Goldman Sachs, $167.50 for JPMorgan, $92.63 for Morgan Stanley
|
Pricing date: | Dec. 21
|
Settlement date: | Dec. 29
|
Underwriter: | BofA Securities, Inc.
|
Fees: | 1.75%
|
Cusip: | 89116B406
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.