This material is intended to provide commentary on securities markets discussed herein.
Not Advice: The information contained in this material is for informational purposes only and is not intended to provide professional, investment or any other type of advice or recommendation, or to create a fiduciary relationship. Neither TD Securities (USA) LLC (“TD Securities USA”) nor any of its affiliates (collectively, “TD”) makes any representation or warranty, express or implied, regarding the accuracy, reliability, completeness, appropriateness or sufficiency for any purpose of any information included in this material. Certain information may have been provided by third-party sources and, while believed to be reliable, has not been independently verified by TD, and its accuracy or completeness cannot be guaranteed. You should not make an investment decision in reliance on this material, which is intended to provide only brief comments on the topics addressed and is based on information that is likely to change without notice. Further, this material does not include risk factors or other material information necessary to make an investment decision and does not take into account your investment objectives or financial condition. You should obtain your own investment, tax, accounting, and legal advice, as appropriate, in order to assist them in deciding whether to enter into any securities transaction.
Not Securities or Derivatives Research: This material has not been produced, reviewed or approved by TD’s securities or derivatives research departments, and is not subject to the independence and disclosure standards applicable to securities and derivatives research reports. The views of the author may differ from others at TD, including TD securities or derivatives research analysts.
Not Independent: The views expressed in this material may not be independent of the interests of TD. TD may engage in conflicting activities, including principal trading before or after posting this material, market making, lending, or the provision of investment banking or other services involving issuers and securities referred to in this material. TD may have a financial interest in the securities discussed in this content, including, without limitation, an option, right, warrant, future, long or short position in the security.
Not An Offer or Solicitation: Nothing contained in this material is, or should be construed as, an offer, a solicitation of an offer or an invitation to buy or sell any security, and it is not intended for distribution in any jurisdiction where such distribution would be contrary to law.
Risk of Loss: Securities transactions involve risk of loss and are subject to the risks of fluctuating prices and the uncertainty of dividends, rates of return and yield. You should weigh potential benefits against the risks. Past performance is no indicator of future performance and the materials are not intended to forecast or predict future events.