Published on 2/13/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.65 million capped buffered notes on stock basket
By Sarah Lizee
Olympia, Wash., Feb. 13 – Toronto-Dominion Bank priced $1.65 million of capped buffered notes due Feb. 7, 2023 linked to an equally weighted basket of stocks, according to a 424B2 filed with the Securities and Exchange Commission.
The stocks include Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co.
If the basket return is positive, the payout at maturity will be par plus the basket return, subject to a maximum payout of $1,750 per $1,000 of notes.
If the basket declines by up to 20%, the payout will be par.
Investors will lose 1% for every 1% decline of the basket beyond 20%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Capped buffered notes
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Basket components: | Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co., equal weights
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Amount: | $1,645,000
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Maturity: | Feb. 7, 2023
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the basket return is positive, par plus the basket return, subject to a maximum payout of $1,750 per $1,000 of notes; if the basket declines by up to 20%, par; 1% loss for every 1% decline of the basket beyond 20%
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Initial levels: | $32.97 for BofA, $133.37 for JPMorgan, $47.12 for Wells
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Buffer level: | 80% of initial basket level
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Pricing date: | Feb. 3
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Settlement date: | Feb. 6
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Agent: | TD Securities (USA) LLC
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Fees: | 0.6%
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Cusip: | 89114RCV6
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