Published on 7/22/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $24.93 million capped leveraged buffered notes on S&P 500
Chicago, June 24 – Toronto-Dominion Bank priced $24.93 million of 0% capped leveraged buffered notes due July 16, 2026 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 200% of any index gain, up to a maximum settlement amount of $1,412 per each $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 5% and will lose 1% for each 1% decline beyond 5%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Capped leveraged buffered notes
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Underlying index: | S&P 500 index
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Amount: | $24,928,000
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Maturity: | July 16, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, subject to maximum settlement amount of $1,412 per each $1,000 principal amount of notes; par if index falls by up to 5%; otherwise, 1% loss for each 1% decline beyond 5%
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Initial level: | 4,510.04
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Buffer level: | 4,284.538; 95% of initial level
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Pricing date: | July 13
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Settlement date: | July 18
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Agent: | TD Securities (USA) LLC
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Fees: | 0.13%
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Cusip: | 89115F3Q2
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