TD Bank plans market-linked notes with leveraged upside tied to S&P

By Susanna Moon

Chicago, Oct. 7 – Toronto-Dominion Bank plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 3, 2021 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any index gain, up to a maximum return of 50% to 55%. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond the buffer.

TD Securities (USA) LLC and Wells Fargo Securities, LLC are the agents.

The notes will price on Oct. 31 and settle on Nov. 3.

The Cusip number is 89114QXQ6.

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