Published on 11/1/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $5.67 million capped notes with absolute return buffer on S&P 500
By William Gullotti
Buffalo, N.Y., Nov. 1 – Toronto-Dominion Bank priced $5.67 million of 0% capped notes with absolute return buffer due Oct. 25, 2024 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 of $10 plus any index gain, up to a maximum return of par plus 15%.
If the index falls by up to 26.5%, investors will receive par plus the absolute value of the index return.
Investors will be exposed to any index decline beyond 26.5%.
BofA Securities, Inc. is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Capped notes with absolute return buffer
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Underlying index: | S&P 500 index
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Amount: | $5,673,910
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Maturity: | Oct. 25, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus any index gain, capped at 15%; if index falls by up to 26.5%, par plus absolute value of index return; otherwise, 1% loss for every 1% drop beyond 26.5%
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Initial level: | 3,807.3
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Threshold value: | 2,798.37; 73.5% of initial value
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Final value: | Average of index’s closing levels on five trading days ending Oct. 22, 2024
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Pricing date: | Oct. 27
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Settlement date: | Nov. 3
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 891162273
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