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TD Bank plans leveraged capped buffered notes linked to ETF basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 5 – Toronto-Dominion Bank plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Aug. 3, 2020 linked a basket of six exchange-traded funds, according to a 4242B5 filed with the Securities and Exchange Commission.
The basket components are the SPDR S&P 500 ETF Trust with a 50% weight, iShares Russell 2000 ETF with a 15% weight, iShares MSCI EAFE ETF with a 15% weight, iShares MSCI Emerging Markets ETF with a 10% weight, PowerShares DB Commodity Index Tracking Fund with a 5% weight and Vanguard REIT ETF with a 5% weight.
If the basket return is positive, the payout at maturity will be par plus 1.5 times the basket return, subject to a maximum payout of $1,450 to $1,500 per $1,000 principal amount of notes. The exact cap will be set at pricing.
Investors will receive par if the basket declines by up to 15% and will lose 1% for every 1% decline beyond the 15% buffer.
TD Securities (USA) LLC and Wells Fargo Securities, LLC are the agents.
The notes will price on Jan. 29 and settle on Feb. 3.
The Cusip number is 89114QUK2.
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