New Issue: TD Bank prices $3 million capped buffered return enhanced notes on S&P

By William Gullotti

Buffalo, N.Y., April 22 – Toronto-Dominion Bank sold $3 million of 0% capped buffered return enhanced notes due Oct. 24, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.2 times any index gain, up to a maximum payout of par plus 18.708%.

Investors will receive par if the index falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.

TD Securities (USA) LLC is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	Toronto-Dominion Bank
Issue:	Capped buffered return enhanced notes
Underlying index:	S&P 500 index
Amount:	$3 million
Maturity:	Oct. 24, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.2 times any index gain, capped at 18.708%; par if index falls by up to 15%; otherwise, 1.1765% loss for every 1% decline beyond 15%
Initial index price:	4,462.21
Buffer price:	3,792.8785; 85% of initial price
Strike date:	April 19
Pricing date:	April 20
Settlement date:	April 25
Underwriter:	TD Securities (USA) LLC
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.12%
Cusip:	89114VD61

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