Published on 5/25/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $750,000 capped notes linked to S&P 500
By Kiku Steinfeld
Chicago, May 25 – Toronto-Dominion Bank priced $750,000 of 0% capped notes due Feb. 23, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return is positive, the payout at maturity will be par plus the index return, capped at par plus 7.85%.
Otherwise, investors will receive par.
TD Securities (USA) LLC is the agent with J.P. Morgan Securities LLC acting as the placement agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Capped notes
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| Underlying index: | S&P 500 index
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| Amount: | $750,000
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| Maturity: | Feb. 23, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any index gain, capped at par plus 7.85%; otherwise, par
|
| Initial value: | 3,928.86
|
| Pricing date: | Jan. 19, 2023
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| Settlement date: | Jan. 24, 2023
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| Agent: | TD Securities (USA) LLC with J.P. Morgan Securities LLC acting as placement agent
|
| Fees: | 1.04%
|
| Cusip: | 89114YMQ1
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