Company: TDBCP
Filing Date: 2025-11-18
Form Type: 424B2
Source: 0001140361-25-042579
Chunk: 18

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-18
Form: 424B2
Chunk 18
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 market, you should consult your tax advisors as to the consequences of acquiring, holding and disposing of the Notes and receiving the payments that might be due under the Notes.

| TD SECURITIES (USA) LLC | P-11 |

Hypothetical Returns The examples and table set out below are included for illustration purposes only and are hypothetical examples only: amounts below may have been rounded for ease of analysis. The hypothetical Initial Values, Final Values and Percentage Changes of the Reference Assets used to illustrate the calculation of the Payment at Maturity are not estimates or forecasts of the Initial Value or Final Value of any Reference Asset, or the values of the Reference Assets on any Trading Day prior to the Maturity Date. All examples reflect the Digital Return of 14.90%, Buffer Values equal to 85.00% of the respective Initial Values, that a holder purchased Notes with a Principal Amount of $1,000 and that no market disruption event occurs on the Final Valuation Date. The actual terms of the Notes are set forth elsewhere in this pricing supplement.

| Example 1 — | Calculation of the Payment at Maturity where the Final Value of each Reference Asset is greater than or equal to its Buffer Value and the Least Performing Percentage 
 Change is less than the Digital Return.                                                                                                                               |                                    |
|             | Least Performing                                                                                                                                                      
 Percentage Change:                                                                                                                                                    | 5.00%                              |
|             | Payment at Maturity:                                                                                                                                                  | = $1,000.00 + ($1,000.00 × 14.90%) 
 = $1,000.00 + $149.00              
 = $1,149.00                        |
|             | On a $1,000.00 investment, a Least Performing Percentage Change of 5.00% results in a Payment at Maturity of $1,149.00, for a return of 14.90% on the Notes.          |                                    |

| Example 2 — | Calculation of the Payment at Maturity where the Final Value of each Reference Asset is greater than or equal to its Buffer Value and the Least Performing Percentage 
 Change is greater than the Digital Return.                                                                                                                            |                                    |
|             | Least Performing                                                                                                                                                      
 Percentage Change:                                                                                                                                                    | 50.00%                             |
|             | Payment at Maturity:                                                                                                                                                  | = $1,000.00 + ($1,000.00 × 14.90%) 
 = $1,000.00 + $149.00              
 = $1,149.00