Published on 6/2/2016 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.57 million market-linked notes with leveraged upside on six funds
By Wendy Van Sickle
Columbus, Ohio, June 2 – Toronto-Dominion Bank priced $1.57 million 0% market linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Dec. 3, 2020 linked to a basket of six exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF Trust with a 50% weight, the iShares Russell 2000 ETF with a 15% weight, the iShares MSCI EAFE ETF with a 15% weight, the iShares MSCI Emerging Markets ETF with a 10% weight, the PowerShares DB Commodity Index Tracking fund with a 5% weight and the Vanguard REIT ETF with a 5% weight.
The payout at maturity will be par plus 150% of any basket gain, up to a maximum return of 45%.
Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
TD Securities (USA) LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | Toronto-Dominion Bank
|
| Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying ETFs: SPDR S&P 500 ETF Trust (50% weight), iShares Russell 2000 ETF (15% weight), iShares MSCI EAFE ETF (15% weight), iShares MSCI Emerging Markets ETF (10% weight), PowerShares DB Commodity Index Tracking fund (5% weight) and Vanguard REIT ETF (5% weight)
|
| Amount: | $1,566,000
|
| Maturity: | Dec. 3, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 1.5 times basket return, subject to maximum settlement amount of $1,450 for each $1,000 of notes; par if basket declines by 10% or less; exposure to losses beyond 10%
|
| Initial levels: | $210.08 for SPDR S&P 500 ETF Trust, $114.98 for iShares Russell 2000 ETF, $58.38 for iShares MSCI EAFE ETF, $33.13 iShares MSCI Emerging Markets ETF, $14.71 for PowerShares DB Commodity Index Tracking fund and $83.69 for Vanguard REIT ETF
|
| Pricing date: | May 31
|
| Settlement date: | June 3
|
| Agents: | TD Securities (USA) LLC and Wells Fargo Securities, LLC
|
| Fees: | 2.87%
|
| Cusip: | 89114QVJ4
|
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