Published on 5/4/2016 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $1.9 million market-linked notes with leveraged upside on six funds
By Wendy Van Sickle
Columbus, Ohio, May 4 – Toronto-Dominion Bank priced $1.9 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 4, 2020 linked to a basket of six exchange-traded funds, according to an 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
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| Underlying funds: | 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: | $1.9 million
|
| Maturity: | Nov. 4, 2020
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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 basket gain, up to maximum settlement return of 45%; par if basket falls by up to 15%; 1% loss for every 1% decline beyond 15%
|
| Initial levels: | $206.30 for SPDR S&P 500 ETF Trust, $112.36 for iShares Russell 2000 ETF, $58.43 for iShares MSCI EAFE ETF, $34.39 for iShares MSCI Emerging Markets ETF, $14.58 for PowerShares DB Commodity Index Tracking fund and $81.83 for Vanguard REIT ETF
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| Pricing date: | April 29
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| Settlement date: | May 4
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| Agents: | TD Securities (USA) LLC and Wells Fargo Securities, LLC
|
| Fees: | 3.13%
|
| Cusip: | 89114QVB1
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