Published on 11/3/2016 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.19 million leveraged buffered notes linked to ETFs
By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – Toronto-Dominion Bank priced $1.19 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 3, 2021 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF Trust with a 50% weight, the iShares Russell 2000 exchange-traded fund with a 15% weight, the iShares MSCI EAFE ETF with a 15% weight, the iShares MSCI Emerging Markets ETF with a 10% weight, the PowerShares DB Commodity Index Tracking fund with a 5% weight and the Vanguard REIT ETF with a 5% weight.
If the basket return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum return of 49%. Investors will receive par if the basket decreases by up to 15% and will lose 1% for every 1% that the basket may decline beyond 15%.
TD Securities (USA) LLC and Wells Fargo Securities LLC are the agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying ETFs: SPDR S&P 500 ETF Trust (50% weight), iShares Russell 2000 ETF (15% weight), iShares MSCI EAFE ETF (15% weight), iShares MSCI Emerging Markets ETF (10% weight), PowerShares DB Commodity Index Tracking fund (5% weight), Vanguard REIT ETF (5% weight)
|
| Amount: | $1,193,000
|
| Maturity: | Nov. 3, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any basket gain, up to 49% maximum return; par if basket declines by 15% or less; 1% loss for every 1% that basket may decline beyond 15%
|
| Initial share prices: | $212.55 for S&P 500 trust, $118.50 for Russell 2000 ETF, $57.82 for MSCI EAFE ETF, $37.14 for Emerging Markets ETF, $14.96 for PowerShares ETF and $81.76 for Vanguard ETF
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 3
|
| Agents: | TD Securities (USA) LLC and Wells Fargo Securities LLC
|
| Fees: | 4.2%
|
| Cusip: | 89114QXT0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
