Published on 1/18/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.34 million leveraged capped notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., Jan. 18 – Toronto-Dominion Bank priced $1.34 million of 0% leveraged capped index-linked notes due March 14, 2025 tied 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 300% of the index return, capped at $1,390 per $1,000 principal amount.
Investors will be fully exposed to any index decline.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $1.34 million
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Maturity: | March 14, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, capped at $1,390 per $1,000 principal amount; full exposure to losses
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Initial index level: | 3,983.17
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Pricing date: | Jan. 12
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Settlement date: | Jan. 20
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89114YLW9
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