Published on 7/5/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $688,000 leveraged market-linked notes on S&P
By Sarah Lizee
Olympia, Wash., July 5 – Toronto-Dominion Bank priced $688,000 of 0% market-linked securities with leveraged upside participation and contingent downside due Jan. 3, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 116% of any index gain.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline below the initial level if it falls by more than 20%.
TD Securities (USA) LLC and Wells Fargo Securities, LLC are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Market-linked securities with leveraged upside participation and contingent downside
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Underlying index: | S&P 500 index
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Amount: | $688,000
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Maturity: | Jan. 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 116% of any index gain; par if the index falls by up to 20%; 1% loss for every 1% decline below initial level if index falls by more than 20%
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Initial index level: | 2,924.92
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Threshold level: | 2,339.936, 80% of initial level
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Pricing date: | June 27
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Settlement date: | July 2
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Agents: | TD Securities (USA) LLC and Wells Fargo Securities, LLC
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Fees: | 3.15%
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Cusip: | 89114QU63
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