By Sarah Lizee
Olympia, Wash., May 8 – Toronto-Dominion Bank priced $25,000 of 0% dual directional buffered notes due May 20, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum upside return of 7%.
If the final index level is less than the initial index level by up to 19.9%, the payout will be par plus the absolute value of the index return.
If the final index level is less than the initial index level by more than 19.9%, investors will lose 1.2484% for every 1% that the index declines beyond 19.9%.
TD Securities (USA) LLC is the agent.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Dual directional buffered notes
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| Underlying index: | S&P 500
|
| Amount: | $25,000
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| Maturity: | May 20, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level is greater than initial index level, par plus index return, subject to maximum upside return of 7%; if final index level is less than initial index level by up to 19.9%, par plus absolute value of index return; if final index level is less than initial index level by more than 19.9%, 1.2484% loss for every 1% that index declines beyond 19.9%
|
| Initial level: | 2,842.74
|
| Buffer level: | 80.1% of initial level
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| Pricing date: | May 5
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| Settlement date: | May 8
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| Agent: | TD Securities (USA) LLC
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| Fees: | 1%
|
| Cusip: | 89114RKD7
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