Published on 2/26/2024 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $3.62 million leveraged capped buffered notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., Feb. 26 – Toronto-Dominion Bank priced $3.62 million of 0% leveraged capped buffered index-linked notes due Dec. 18, 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 180% of the index return, subject to a maximum payout of par plus 23.4%.
Investors will receive par if the index finishes flat or falls by up to 12.5% and will lose 1.1429% for every 1% index decline beyond 12.5%.
TD Securities (USA) LLC is the agent. iCapital 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: | S&P 500 index
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Amount: | $3,624,000
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Maturity: | Dec. 18, 2025
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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 23.4%; par if index falls by up to 12.5%; 1.1429% loss for every 1% index decline beyond 12.5%
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Initial index level: | 4,975.51
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Buffer level: | 4,353.57125; 87.5% of initial level
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Pricing date: | Feb. 20
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Settlement date: | Feb. 27
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Agent: | TD Securities (USA) LLC
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Selected dealer: | iCapital Markets LLC, an affiliate of Goldman Sachs & Co. LLC
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Fees: | None
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Cusip: | 89115FSK8
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