By William Gullotti
Buffalo, N.Y., Sept. 19 – Toronto-Dominion Bank priced $5.83 million of 0% capped buffer return enhanced notes due Oct. 2, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 125% of the index return, capped at par plus 12.375%.
If the final index level is less than or equal to the initial index level but greater than or equal to the buffer value, 85% of the initial index level, the payout will be par.
If the final index level is less than the buffer value, investors will lose 1.1765% for every 1% that the index declines beyond 15%.
TD Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Capped buffer return enhanced notes
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| Underlying index: | S&P 500
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| Amount: | $5.83 million
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| Maturity: | Oct. 2, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final index level is greater than initial index level, par plus 125% of the index return, capped at par plus 12.375%; if final index level is less than or equal to initial index level but greater than or equal to buffer value, par; if final index level is less than buffer value, 1.1765% loss for every 1% that index declines beyond 15%
|
| Initial level: | 4,450.32
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| Buffer value: | 3,782.772; 85% of initial index level
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
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| Agents: | TD Securities (USA) LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
|
| Cusip: | 89115FC82
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