Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $7.96 million leveraged capped buffered basket-linked notes on index basket
By William Gullotti
Buffalo, N.Y., Feb. 23 – Toronto-Dominion Bank priced $7.96 million of leveraged capped buffered basket-linked notes due June 13, 2025 linked to an unequally weighted basket of indexes, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with an 12% weight and the S&P/ASX 200 index with an 9% weight.
If the basket return is positive, the payout at maturity will be par plus 250% of the basket return, subject to a maximum payout of par plus 25.1%.
Investors will receive par if the basket declines by up to 12.5% and will lose 1.1429% for every 1% decline beyond 12.5%.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Leveraged capped buffered basket-linked notes
|
| Basket components: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight) and S&P/ASX 200 (9% weight)
|
| Amount: | $7,957,000
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| Maturity: | June 13, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index return is positive, par plus 250% of the basket return, capped at par plus 25.1%; par if the basket declines by 12.5% or less; 1.1429% loss for every 1% drop beyond 12.5%
|
| Initial levels: | 4,689.28 for Euro Stoxx, 2,612.03 for Topix, 7,512.28 for FTSE, 11,142.79 for Swiss Market, 7,603.583 for S&P/ASX
|
| Buffer level: | 87.5% of initial basket level
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 21
|
| Agent: | TD Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 89115FS28
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