Published on 5/3/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $22.72 million accelerated return notes on weighted index basket
By Wendy Van Sickle
Columbus, Ohio, May 3 – Toronto-Dominion Bank priced $22.72 million of 0% accelerated return notes due June 28, 2024 linked to a weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei Stock Average index each with an initial weight of 20%, the Swiss Market index and the S&P/ASX 200 index each with an initial weight of 7.5% and the FTSE China 50 index with an initial weight of 5%.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 22%.
Investors will be fully exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
Issuer: | Toronto-Dominion Bank
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Issue: | Accelerated return notes
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Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight), FTSE China 50 (5% weight)
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Amount: | $22,716,380
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Maturity: | June 28, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 22%; otherwise, exposure to any basket decline
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Initial levels: | 4,358.05 for Stoxx, 7,831.58 for FTSE, 28,457.68 for Nikkei, 11,361.89 for Swiss, 7,292.748 for S&P/ASX, 12,804.93 for FTSE China 50
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Pricing date: | April 27
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Settlement date: | May 4
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 89116C818
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