Published on 12/6/2016 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $2.46 million leveraged capped buffered notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Dec. 6 – Toronto-Dominion Bank priced $2.46 million of leveraged capped buffered notes due Dec. 12, 2018 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, subject to a maximum payment of $1,173.40 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
TD Securities (USA) LLC and Goldman, Sachs & Co. are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered notes
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Underlying index: | S&P 500
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Amount: | $2.46 million
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Maturity: | Dec. 12, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 150% of any index gain, with return capped at 17.34%; par if index falls by up to 10%; 1.1111% loss for every 1% drop beyond 10%
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Initial level: | 2,202.94
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Buffer level: | 1,982.646, 90% of the initial level
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Pricing date: | Nov. 22
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Settlement date: | Dec. 1
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Agents: | TD Securities (USA) LLC and Goldman, Sachs & Co.
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Fees: | 1.75%
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Cusip: | 89114QYM4
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