Published on 6/5/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $8.94 million leveraged capped buffered notes on S&P 500
By Sarah Lizee
Olympia, Wash., June 5 – Toronto-Dominion Bank priced $8.94 million of 0% leveraged capped buffered notes due June 8, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, capped at $1,238.50 per $1,000 of notes.
Investors will receive par if the index finishes flat or falls by up to 15% and will lose 1.1765% for every 1% index decline beyond 15%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered notes
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Underlying index: | S&P 500 index
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Amount: | $8,938,000
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Maturity: | June 8, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at par plus 23.85%; par if index falls by up to buffer level; 1.1765% loss for every 1% index decline beyond buffer
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Initial index level: | 3,044.31
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Buffer level: | 2,587.6635; 85% of initial level
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Pricing date: | May 29
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Settlement date: | June 5
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89114RLJ3
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