Published on 8/24/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $21.36 million leveraged capped buffered notes on S&P 500
By Marisa Wong
Los Angeles, Aug. 24 – Toronto-Dominion Bank priced $21,362,000 of 0% leveraged capped buffered notes due Sept. 24, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, capped at $1,146.25 per $1,000 of notes.
Investors will receive par if the index finishes flat or falls by up to 10% and will lose 1.1111% for every 1% index decline beyond 10%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered notes
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Underlying index: | S&P 500 index
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Amount: | $21,362,000
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Maturity: | Sept. 24, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at par plus 14.625%; par if index falls by up to 10%; 1.1111% loss for every 1% index decline beyond 10%
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Initial index level: | 3,385.51
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Buffer level: | 3,046.959, 90% of initial level
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Pricing date: | Aug. 20
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Settlement date: | Aug. 28
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89114RQP4
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