Published on 10/17/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $9.14 million leveraged capped buffered notes on S&P
By Taylor Fox
New York, Oct. 19 – Toronto-Dominion Bank priced $9.14 million of 0% leveraged capped buffered notes due March 15, 2022 linked to the S&P 500 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 150% of the index return, capped at $1,168 per $1,000 of notes.
Investors will receive par if the index finishes flat or falls by up to 10% and will lose 1.1111 % for every 1% index decline beyond 10%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered notes
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Underlying index: | S&P 500 index
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Amount: | $9,142,000
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Maturity: | March 15, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at $1,168 per $1,000 of notes; par if index falls by up to 10%; 1.1111 % loss for every 1% index decline beyond 10%
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Initial value: | 3,357.01
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Buffer level: | 3,021.309, 90% of initial level
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Pricing date: | Sept. 17
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Settlement date: | Sept. 24
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Agent: | TD Securities (USA) LLC
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Fees: | 1.11%
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Cusip: | 89114RSR8
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