Published on 5/11/2022 in the Prospect News Structured Products Daily.
New Issue: TD Bank prices $2 million capped buffered notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., May 11 – Toronto-Dominion Bank priced $2 million of 0% capped buffered notes due May 14, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return is positive, the payout at maturity will be par plus the index return, capped at par plus 39.26%.
Investors will receive par if the index finishes flat or falls by up to 30% and will lose 1% for every 1% decline beyond 30%.
TD Securities (USA) LLC is the agent.
Issuer: | Toronto-Dominion Bank
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Issue: | Capped buffered notes
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Underlying index: | S&P 500 index
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Amount: | $2 million
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Maturity: | May 14, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at par plus 39.26%; par if the index declines up to 30%; otherwise, 1% loss for every 1% decline of the index beyond 30%
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Initial value: | 3,991.24
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Buffer level: | 2,793.868; 70% of initial level
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Pricing date: | May 9
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Settlement date: | May 12
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Agent: | TD Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 89114Y2Y6
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