Published on 5/22/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $9.25 million leveraged buffered basket-linked notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, May 22 – Toronto-Dominion Bank priced $9.25 million of leveraged buffered basket-linked notes due May 21, 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 158.3% of the return.
Investors will receive par if the basket declines by up to 10% and lose 1.1111% for every 1% decline beyond 10%.
TD Securities (USA) LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Leveraged 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: | $9.25 million
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| Maturity: | May 21, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket return is positive, par plus 158.3% of the basket return; if the basket falls by up to 10%, par; otherwise, investors will lose 1.1111% for every 1% that the basket declines beyond 10%
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| Initial levels: | 4,323.23 for Euro Stoxx, 2,133.61 for Topix, 7,723.23 for FTSE, 11,437.78 for Swiss Market, 7,199.242 for S&P/ASX
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| Buffer level: | 90% of initial basket level
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| Pricing date: | May 17
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| Settlement date: | May 25
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| Agents: | TD Securities (USA) LLC and Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 89114YXT3
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