Published on 4/17/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $8.51 million leveraged capped buffered basket-linked notes on index basket
By William Gullotti
Buffalo, N.Y., April 17 – Toronto-Dominion Bank priced $8.51 million of leveraged capped buffered basket-linked notes due April 15, 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 150% of the basket return, subject to a maximum payout of par plus 53.19%.
Investors will receive par if the basket declines by up to 20% and will lose 1.25% for every 1% decline beyond the 20% buffer.
TD Securities (USA) LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | Toronto-Dominion Bank
|
| 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)
|
| Amount: | $8,507,000
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| Maturity: | April 15, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index return is positive, par plus 150% of the basket return, capped at par plus 53.19%; par if the basket declines by 20% or less; 1.25% loss for every 1% drop beyond 20%
|
| Initial levels: | 4,333.29 for Euro Stoxx, 1,991.85 for Topix, 7,785.72 for FTSE, 11,265.3 for Swiss Market, 7,309.894 for S&P/ASX
|
| Buffer level: | 80% of initial basket level
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| Pricing date: | April 11
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| Settlement date: | April 18
|
| Agents: | TD Securities (USA) LLC and Goldman Sachs & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 89114YVL2
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