Published on 10/17/2018 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $21.59 million leveraged capped buffered notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 17 – Toronto-Dominion Bank priced $21.59 million of 0% leveraged capped buffered notes due March 13, 2020 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 140% times the index gain, capped at $1,176.40 per $1,000 principal amount. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that the index declines beyond 10%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered notes
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Underlying index: | S&P 500 index
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Amount: | $21,585,000
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Maturity: | March 13, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 140% of any index gain, capped at $1,176.40 per $1,000 principal amount; par if the index declines by 10% or less; 1.1111% loss for every 1% decline beyond 10%
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Initial level: | 2,885.57
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Buffer level: | 2,597.013, 90% of initial level
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Pricing date: | Oct. 5
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Settlement date: | Oct. 15
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89114QRG5
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