Published on 4/5/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $3.98 million leveraged capped buffered basket-linked notes on index basket
By Wendy Van Sickle
Columbus, Ohio, April 5 – Toronto-Dominion Bank priced $3.98 million of leveraged capped buffered basket-linked notes due April 25, 2025 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 200% of the basket return, subject to a maximum payout of par plus 54.8%.
Investors will receive par if the basket declines by up to 15% and will lose 1.1765% for every 1% decline beyond the 15% buffer.
TD Securities (USA) LLC and Goldman Sachs & Co. LLC are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered 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: | $3,977,000
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Maturity: | April 25, 2025
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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 200% of the basket return, capped at par plus 54.8%; par if the basket declines by 15% or less; 1.1765% loss for every 1% decline beyond 15%
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Initial levels: | 4,285.42 for Stoxx, 1,983.32 for Topix, 7,620.43 for FTSE, 11,032.21 for Swiss Market, 7,122.336 for S&P/ASX
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Buffer level: | 85% of initial level
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Pricing date: | March 30
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Settlement date: | April 6
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Agents: | TD Securities (USA) LLC and Goldman Sachs & Co. LLC
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Fees: | 0%
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Cusip: | 89114YUU3
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