Published on 3/31/2023 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $10.52 million leveraged capped buffered basket-linked notes on index basket
By Wendy Van Sickle
Columbus, Ohio, March 31 – Toronto-Dominion Bank priced $10.52 million of leveraged capped buffered basket-linked notes due Feb. 21, 2025 linked to an unequally weighted basket of indexes, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with an 12% weight and the S&P/ASX 200 index with an 9% weight.
If the basket return is positive, the payout at maturity will be par plus 200% of the basket return, subject to a maximum payout of par plus 38%.
Investors will receive par if the basket declines by up to 17.5% and will lose 1.2121% for every 1% decline beyond the 17.5% buffer.
TD Securities (USA) LLC and Goldman Sachs & Co. LLC are the agents.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered basket-linked notes
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Basket components: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight) and S&P/ASX 200 (9% weight)
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Amount: | $10,524,000
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Maturity: | Feb. 21, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 200% of the basket return, capped at par plus 38%; par if the basket declines by 17.5% or less; 1.2121% loss for every 1% decline beyond 17.5%
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Initial levels: | 4,130.62 for Stoxx, 1,955.32 for Tokyo, 7,405.45 for FTSE, 10,634.04 for Swiss, 6,955.238 for S&P/ASX
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Buffer level: | 82.5% of initial level
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Pricing date: | March 24
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Settlement date: | March 31
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Agents: | TD Securities (USA) LLC and Goldman Sachs & Co. LLC
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Fees: | 0%
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Cusip: | 89114YUK5
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