Published on 3/8/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $168,000 index-linked capped leveraged buffered notes on S&P 500
By Kiku Steinfeld
Chicago, March 8 – Toronto-Dominion Bank priced $168,000 of 0% index-linked capped leveraged buffered notes due June 30, 2028 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 150% of any index gain, up to a maximum settlement amount of $1,558 per each $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 30% and will lose 1% for each 1% decline beyond 30%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Index-linked capped leveraged buffered notes
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Underlying index: | S&P 500 index
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Amount: | $168,000
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Maturity: | June 30, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, subject to maximum settlement amount of $1,558 per each $1,000 principal amount of notes; par if index falls by up to 30%; otherwise, 1% loss for each 1% decline beyond 30%
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Initial level: | 4,378.41
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Buffer level: | 3,064.887; 70% of initial level
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Pricing date: | June 27, 2023
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Settlement date: | June 30, 2023
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Agent: | TD Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 89114YYY1
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