New Issue: TD Bank prices $82.3 million capped notes with absolute return buffer on S&P 500

By William Gullotti

Buffalo, N.Y., April 30 – Toronto-Dominion Bank priced $82.3 million of 0% capped notes with absolute return buffer due June 27, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

TD Bank sold 8,229,523 units with a face amount of $10 each, for a total principal amount of $82,295,230. The issuer sold 550,000 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $82,267,730.

The payout at maturity will be par of $10 plus any index gain, up to a maximum return of 10%.

If the index falls by up to 10.4%, investors will receive par plus the absolute value of the index return.

Otherwise, investors will lose 1% for every 1% of index decline beyond 10.4%.

BofA Securities, Inc. is the agent.

Issuer:	Toronto-Dominion Bank
Issue:	Capped notes with absolute return buffer
Underlying index:	S&P 500 index
Principal amount:	$82,295,230
Proceeds:	$82,267,730
Maturity:	June 27, 2025
Coupon:	0%
Price:	$9.95 per unit for 550,000 units; par of $10 for remainder
Payout at maturity:	Par plus any index gain, capped at 10%; if index falls by up to 10.4%, par plus absolute value of index return; exposure to any index decline beyond 10.4%
Initial level:	5,048.42
Threshold value:	4,523.38; 89.6% of initial value
Pricing date:	April 25
Settlement date:	May 2
Agent:	BofA Securities, Inc.
Fees:	1.25% for 550,000 units; 1.75% for remainder
Cusip:	89116D212

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