Published on 7/5/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $6.04 million autocallable Stars linked to financial stock basket
By Wendy Van Sickle
Columbus, Ohio, July 5 – Toronto-Dominion Bank priced $6.04 million of autocallable Strategic Accelerated Redemption Securities due June 26, 2026 linked to a stock 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 notes will be called at par plus a premium if the closing level of the basket is greater than or equal to its starting value on any annual observation date, including maturity. The call premium will be 15.15% per year.
If the notes are not called investors will lose 1% for every 1% decline.
BofA Securities, Inc. is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Autocallable Strategic Accelerated Redemption Securities
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Underlying stocks: | Goldman Sachs Group, Inc. (33.34% weight), JPMorgan Chase & Co. (33.33% weight), Morgan Stanley (33.33% weight)
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Amount: | $6,042,030
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Maturity: | June 26, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If notes are not called, 1% loss for each 1% decline
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Call: | Notes will be called at par plus a premium if the closing level of the basket is greater than or equal to its starting value on any annual observation date including maturity; call premium will be 15.15% per year
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Initial levels: | $323.09 for Goldman Sachs, $143.43 for JPMorgan, $85.24 for Morgan Stanley
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Pricing date: | June 29
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Settlement date: | July 7
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 89116C651
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