Company: TDBCP
Filing Date: 2025-07-30
Form Type: 424B2
Source: 0001140361-25-028053
Chunk: 8

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-30
Form: 424B2
Chunk 8
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 receive any positive return at maturity, you will not benefit in any way from the performance of the better performing Fund. The securities may underperform an alternative investment linked to a basket composed of the Funds, since in such case the performance of a better performing Fund would be blended with the performance of the lowest performing Fund, resulting in a better return than the return of the lowest performing Fund alone. Any Positive Return Based On The Depreciation Of The Lowest Performing Fund Is Effectively Capped. Any positive return based on the depreciation of the lowest performing Fund will be capped at 10% because the contingent absolute return feature is operative only if the ending price of the lowest performing Fund does not decline by more than 10% from its starting price. Any percentage depreciation of the lowest performing Fund from its starting price to its ending price by more than the buffer amount will result in a loss, rather than a positive return, on the securities.

P-9

The Return On Your Securities May Change Significantly Despite Only A Small Change In The Price Of The Lowest Performing Fund. If the ending price of the lowest performing Fund is less than its threshold price, you will receive less than the face amount of your securities and you will lose some, and possibly up to 90%of the face amount per security. This means that, while a decrease in the ending price of the lowest performing Fund to its threshold price will result in a positive return equal to its absolute value return, a decrease in the ending price of the lowest performing Fund to less than its threshold price will instead result in a loss of a 1% of the face amount of the securities for each 1% decline from its starting price in excess of the buffer amount, despite only a small change in the price of the lowest performing Fund. You Will Be Subject To Risks Resulting From The Relationship Among The Funds. It is preferable from your perspective for the Funds to be correlated with each other so that their prices will tend to increase or decrease at similar times and by similar magnitudes. By investing in the securities, you assume the risk that the Funds will not exhibit this relationship. The less correlated the Funds, the more likely it is that any one of the Funds will be performing poorly at any time over the term of the securities. All that is necessary for the securities to perform poorly is for one of the Funds to perform poorly; the performance of a better performing Fund is not relevant to your return on the securities. It is impossible to predict what the relationship among the Funds will be over the