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TD Bank plans market-linked notes with leveraged upside on six funds
By Susanna Moon
Chicago, April 6 – Toronto-Dominion Bank plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 4, 2020 linked to a basket of six exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF Trust with a 50% weight, the iShares Russell 2000 ETF with a 15% weight, the iShares MSCI EAFE ETF with a 15% weight, the iShares MSCI Emerging Markets ETF with a 10% weight, the PowerShares DB Commodity Index Tracking fund with a 5% weight and the Vanguard REIT ETF with a 5% weight.
The payout at maturity will be par plus 150% of any basket gain, up to a maximum return of 45% to 50%. The exact cap will be set at pricing.
Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
The notes will price on April 29 and settle on May 4.
The Cusip number is 89114QVB1.
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