Published on 7/5/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $6.04 million autocallable Stars linked to financial stock basket
By Wendy Van Sickle
Columbus, Ohio, July 5 – Toronto-Dominion Bank priced $6.04 million of autocallable Strategic Accelerated Redemption Securities due June 26, 2026 linked to a stock basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei Stock Average index each with an initial weight of 20%, the Swiss Market index and the S&P/ASX 200 index each with an initial weight of 7.5% and the FTSE China 50 index with an initial weight of 5%.
The notes will be called at par plus a premium if the closing level of the basket is greater than or equal to its starting value on any annual observation date, including maturity. The call premium will be 15.15% per year.
If the notes are not called investors will lose 1% for every 1% decline.
BofA Securities, Inc. is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Autocallable Strategic Accelerated Redemption Securities
|
| Underlying stocks: | Goldman Sachs Group, Inc. (33.34% weight), JPMorgan Chase & Co. (33.33% weight), Morgan Stanley (33.33% weight)
|
| Amount: | $6,042,030
|
| Maturity: | June 26, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If notes are not called, 1% loss for each 1% decline
|
| Call: | Notes will be called at par plus a premium if the closing level of the basket is greater than or equal to its starting value on any annual observation date including maturity; call premium will be 15.15% per year
|
| Initial levels: | $323.09 for Goldman Sachs, $143.43 for JPMorgan, $85.24 for Morgan Stanley
|
| Pricing date: | June 29
|
| Settlement date: | July 7
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 89116C651
|
|
|
© 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.
