Published on 7/7/2020 in the Prospect News Structured Products Daily.
New Issue: TD Bank sells $1.76 million leveraged capped buffered notes on basket
By Sarah Lizee
Olympia, Wash., July 7 – Toronto-Dominion Bank priced $1.76 million of leveraged capped buffered notes due Aug. 26, 2021 linked to an unequally weighted basket of indexes, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 150% of the basket return, subject to a maximum payout of $1,153.75 per $1,000 of notes.
Investors will receive par if the basket declines by up to 10% and will lose 1.1111% for every 1% decline beyond the 10% buffer.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Leveraged capped buffered notes
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Basket components: | Euro Stoxx 50 (36% weight), Topix (27% weight), FTSE 100 (10% weight), Swiss Market (10% weight) and S&P/ASX 200 (8% weight)
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Amount: | $1,764,000
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Maturity: | Aug. 26, 2021
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the index return is positive, par plus 150% of the basket return, capped at $1,153.75 per $1,000 of notes; par if the basket declines by 10% or less; 1.1111% loss for every 1% drop beyond 10%
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Initial levels: | 3,204.17 for Euro Stoxx, 1,577.37 for Topix, 6,159.30 for FTSE, 10,041.91 for Swiss Market, 5,904.08 for S&P/ASX
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Buffer level: | 90% of initial basket level
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Pricing date: | June 26
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Settlement date: | July 6
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Agent: | TD Securities (USA) LLC
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Fees: | None
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Cusip: | 89114RN77
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