Published on 4/6/2018 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $25.95 million leveraged capped buffered notes on S&P 500
By Tali Rackner
Minneapolis, April 6 – Toronto-Dominion Bank priced $25.95 of leveraged capped buffered notes due Feb. 6, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, subject to a maximum payment of $1,254.25 per $1,000 principal amount.
Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered notes
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Underlying index: | S&P 500
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Amount: | $25,946,000
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Maturity: | Feb. 6, 2020
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 1.5 times any index gain, with return capped at 25.425%; par if index falls by up to 12.5%; otherwise, 1.1429% loss for every 1% drop beyond 12.5%
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Initial level: | 2,644.69
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Pricing date: | April 4
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Settlement date: | April 11
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89114QMC9
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