Published on 6/20/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $8.08 million Capped Leveraged Index Return Notes on S&P 500
By William Gullotti
Buffalo, N.Y., June 20 – Toronto-Dominion Bank priced $8.08 million of 0% Capped Leveraged Index Return Notes due Aug. 30, 2024 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus twice any index gain, up to a payout of par plus 13.16%.
If the index falls by up to 5%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 5%.
BofA Securities, Inc. is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500 index
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Amount: | $8,083,870
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Maturity: | Aug. 30, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus twice any index gain, capped at par plus 13.16%; if the index falls by up to buffer, par; otherwise, investors will lose 1% for every 1% decline beyond buffer
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Initial level: | 4,425.84
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Buffer level: | 4,204.55; 95% of initial level
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Pricing date: | June 15
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Settlement date: | June 23
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 89116C719
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