Published on 11/26/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $732,000 digital buffered basket-linked notes on index basket
By Kiku Steinfeld
Chicago, Nov. 27 – Toronto-Dominion Bank priced $732,000 of 0% basket-linked digital buffered notes due April 16, 2025 linked to a weighted basket of indexes, according to a 424B2 filing 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 a 12% weight and the S&P/ASX 200 index with a 9% weight.
If the basket finishes at or above its initial level, the payout at maturity will be the greater of par plus 20.32% and par plus the basket return.
Investors will receive par if the basket declines by no more than 10% and will lose 1.1111% for every 1% that the basket declines beyond 10%.
TD Securities (USA) LLC and Goldman Sachs & Co. LLC are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Basket-linked digital buffered notes
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Underlying indexes: | Euro Stoxx 50 index (36% weight), Topix index (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight), S&P/ASX 200 index (9% weight)
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Amount: | $732,000
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Maturity: | April 16, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket finishes at or above initial level, the greater of par plus 20.32% and par plus the basket return; if the basket declines up to 10%, par; otherwise, lose 1.1111% for every 1% that the basket declines beyond 10%
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Initial levels: | 4,334.03 for Stoxx, 2,006.92 for Topix, 7,824.84 for FTSE, 11,231.99 for Swiss Market, 7,343.875 for S&P/ASX
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Buffer level: | 90% of initial level
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Pricing date: | April 12, 2023
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Settlement date: | April 19, 2023
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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: | 89114YUR0
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