Published on 12/17/2019 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $14.78 million capped buffered notes on S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – Toronto-Dominion Bank priced $14.78 million of 0% capped buffered notes due March 15, 2022 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 1.5 times any gain, capped at $1,146.50 per $1,000 principal amount. If the index declines by up to 25%, the payout will be par. Investors will lose 1.3333% for every 1% that the index declines beyond 25%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Capped buffered notes
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Underlying index: | S&P 500 index
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Amount: | $14.78 million
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Maturity: | March 15, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any gain, capped at $1,146.50 per $1,000 principal amount; if index declines by up to 25%, par; investors will lose 1.3333% for every 1% that index declines beyond 25%
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Initial level: | 3,141.63
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Buffer level: | 2,356.2225, 75% of initial level
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Pricing date: | Dec. 11
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Settlement date: | Dec. 18
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Agent: | TD Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 89114R7H3
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