Published on 3/31/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $17.27 million leveraged capped buffered notes linked to MSCI EAFE
By Wendy Van Sickle
Columbus, Ohio, March 31 – Toronto-Dominion Bank priced $17.27 million of 0% leveraged capped buffered index-linked notes due Oct. 25, 2024 tied to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 180% of the index return, subject to a maximum payout of par plus 24.03%.
Investors will receive par if the index finishes flat or falls by up to 15% and will lose 1.1765% for every 1% index decline beyond 15%.
TD Securities (USA) LLC is the agent. Simon Markets LLC, a broker-dealer affiliated with Goldman Sachs & Co. LLC, is acting as a dealer.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered index-linked notes
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Underlying index: | MSCI EAFE index
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Amount: | $17,272,000
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Maturity: | Oct. 25, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 180% of any index gain, capped at par plus 24.03%; par if index falls by up to 15%; 1.1765% loss for every 1% index decline beyond 15%
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Initial index level: | 2,017.13
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Buffer level: | 1,714.5605; 85% of initial level
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Pricing date: | March 24
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Settlement date: | March 31
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Agent: | TD Securities (USA) LLC
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Selected dealer: | Simon Markets LLC, an affiliate of Goldman Sachs & Co. LLC
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Fees: | None
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Cusip: | 89114YUE9
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