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Toronto-Dominion Bank to price buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Feb. 5 – Toronto-Dominion Bank plans to price 0% buffered notes due March 2, 2021 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 the index return. If the index return is less than or equal to zero but not by more than the buffer percentage, the payout will be par. If the index return is negative by more than the buffer percentage, investors will lose 1% for every 1% that the index declines beyond the buffer percentage.
The buffer percentage is expected to be 25% to 28% and will be set at pricing.
TD Securities (USA) LLC is the underwriter.
The notes will price Feb. 25.
The Cusip number is 89114QUT3.
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