By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – Toronto-Dominion Bank priced $1.15 million of 0% dual directional buffered notes due Dec. 30, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the final ETF level is greater than the initial ETF level, the payout at maturity will be par plus the ETF return, subject to a maximum upside return of 12.25%.
If the final ETF level is less than the initial ETF level by up to 20%, the payout will be par plus the absolute value of the ETF return.
If the final ETF level is less than the initial ETF level by more than 20%, investors will lose 1.25% for every 1% that the ETF declines beyond 20%.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Dual directional buffered notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production
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| Amount: | $1.15 million
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| Maturity: | Dec. 30, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final ETF level is greater than initial ETF level, par plus ETF return, subject to maximum upside return of 12.25%; if final ETF level is less than initial ETF level by up to 20%, par plus absolute value of ETF return; if final ETF level is less than initial ETF level by more than 20%, 1.25% loss for every 1% that ETF declines beyond 20%
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| Initial level: | $21.76
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 19
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 89114RAF3
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