Company: TDBCP
Filing Date: 2025-10-21
Form Type: 424B2
Source: 0001140361-25-038801
Chunk: 29

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-21
Form: 424B2
Chunk 29
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 tax laws to your beneficial ownership of any shares of the worst performing underlying stock received at maturity.                                                                
 If the securities are physically settled you should generally not recognize gain or loss with respect to the shares of the worst performing underlying stock received at maturity (other than                                                 
 with respect to the cash value of any fractional share). Consistent with this position, you should have an aggregate tax basis in the shares of the worst performing underlying stock (including any fractional share for which cash is       
 received) equal to your adjusted tax basis in the securities and should have a holding period in the shares of the worst performing underlying stock beginning on the day after receipt of any shares of the worst performing underlying      
 stock. With respect to any cash received, including any cash received in lieu of a fractional share of the worst performing underlying stock, you should recognize capital gain or loss in an amount equal to the difference between the      
 amount of that cash and the tax basis allocable to the fractional share.                                                                                                                                                                      
 Alternatively, it is possible that receipt of the exchange ratio of the worst performing underlying stock is treated as a taxable settlement of the securities followed by a purchase of the                                                  
 shares of the worst performing underlying stock pursuant to the original terms of the securities. If the receipt of any shares of the worst performing underlying stock is so treated, (i) you should recognize capital gain or loss equal to 
 the difference between the fair market value of the shares received at such time plus the cash you receive, including any cash received in lieu of any fractional share and the amount you paid for your securities, (ii) you should take a   
 basis in such shares in an amount equal to their fair market value at such time and (iii) your holding period in such shares would begin on the day after you beneficially receive such shares. Notwithstanding the foregoing, there is       
 uncertainty regarding the tax treatment of the notes if the notes are physically settled to any extent, and the IRS or a court might not agree with the treatment described above. A different tax treatment could be adverse to you.         
 Except to the extent otherwise required by law, TD intends to treat your securities for U.S. federal income tax purposes in accordance with the treatment described above and under “Material                                                 
 U.S. Federal Income Tax Consequences” in the accompanying product supplement unless and until such time as the IRS and the Treasury determine that some other treatment is more appropriate.                                                  |
| Based on certain factual representations received from us, our special U.S. tax counsel, Fried, Frank, Harris,