Published on 2/13/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $47.89 million leveraged basket-linked notes tied to weighted index basket
By William Gullotti
Buffalo, N.Y., Feb. 13 – Toronto-Dominion Bank priced $47.89 million of leveraged basket-linked notes due Aug. 12, 2024 linked to an unequally weighted basket of indexes, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with an 12% weight and the S&P/ASX 200 index with an 9% weight.
If the basket return is positive, the payout at maturity will be par plus 209.2% of the return.
Investors will be fully exposed to any basket decline.
TD Securities (USA) LLC and Goldman Sachs & Co. LLC are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged basket-linked notes
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Basket components: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight) and S&P/ASX 200 (9% weight)
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Amount: | $47,885,000
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Maturity: | Aug. 12, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 209.2% of the basket return; otherwise, investors will lose 1% for every 1% that the basket declines from initial level
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Initial levels: | 4,209.15 for Euro Stoxx, 1,983.97 for Topix, 7,885.17 for FTSE, 11,276.28 for Swiss Market, 7,530.068 for S&P/ASX
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Pricing date: | Feb. 8
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Settlement date: | Feb. 15
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Agents: | TD Securities (USA) LLC and Goldman Sachs & Co. LLC
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Fees: | 1.38%
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Cusip: | 89114YNW7
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