Published on 1/24/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $7.5 million autocallable buffered basket-linked notes on indexes
By Sarah Lizee
Olympia, Wash., Jan. 24 – Toronto-Dominion Bank priced $7.5 million of autocallable buffered basket-linked notes due Jan. 19, 2023 linked a 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 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
The notes will be called at par plus 8.1% per year if the basket closes at or above its initial level on either annual call observation date.
If the basket return is positive, the payout at maturity will be par plus 24.3%.
Investors will receive par if the basket declines by up to 10% and will lose 1.1111% for every 1% decline beyond the 10% buffer.
TD Securities (USA) LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Autocallable buffered basket-linked notes
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| Underlying basket: | Euro Stoxx 50 index (36% weight), Topix index (27% weight), FTSE 100 index (19% weight), Swiss Market index (10% weight), S&P/ASX 200 index (8% weight)
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| Amount: | $7,501,000
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| Maturity: | Jan. 19, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Call: | At par plus 8.1% per year if the basket closes at or above its initial level on either annual call observation date
|
| Payout at maturity: | If the basket return is positive, par plus 24.3%; par if the basket declines by up to 10%; 1.1111% loss for every 1% decline beyond the 10% buffer
|
| Initial levels: | 3,808.26 for Stoxx, 1,735.44 for Topix, 7,674.56 for FTSE, 10,841.82 for Swiss and 7,064.130 for S&P/ASX
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 27
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| Agents: | TD Securities (USA) LLC and Goldman Sachs & Co. LLC
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| Fees: | 2.65%
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| Cusip: | 89114RBX3
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