The Toronto-Dominion Bank today announced the launch of the TD Dividend Growth Fund-Linked Principal Protected Notes, Series 2NL (Total Return) The notes are issued by TD Bank.

Structured by TD Securities Inc., the notes are linked to the TD Dividend Growth Fund. Managed by Doug Warwick and Michael Lough of TD Asset Management Inc., the fund invests primarily in high-quality, high-yield equity securities and other income-producing instruments of Canadian issuers.

The notes use a dynamic asset allocation strategy designed to provide increased exposure to the fund when performance is up and reduced exposure when performance is down. The notes are also designed to provide up to 150% exposure to the fund through the use of leverage. Investors will benefit from 100% principal protection if they hold the notes until maturity.

The selling period for the notes is April 28 to June 6, with an issue date of June 12. The notes have a term of approximately eight years, maturing on June 10, 2016.