Published on 9/5/2018 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $24.05 million leveraged capped buffered notes on S&P 500
By Sarah Lizee
Olympia, Wash., Sept. 5 – Toronto-Dominion Bank priced $24.05 million of 0% leveraged capped buffered notes due June 3, 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 150% times the index gain, capped at $1,199.50 per $1,000 principal amount. Investors will receive par if the index declines by 12.5% or less and will lose 1.1429% for every 1% that the index declines 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 index
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Amount: | $24,054,000
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Maturity: | June 3, 2020
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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, capped at $1,199.50 per $1,000 principal amount; par if the index declines by 12.5% or less; 1.1429% loss for every 1% decline beyond 12.5%
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Initial level: | 2,901.52
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Buffer level: | 2,538.83, 87.5% of initial level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 10
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89114QQL5
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