Company: TDBCP
Filing Date: 2025-02-28
Form Type: 424B3
Source: 0001140361-25-006504
Chunk: 19

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-28
Form: 424B3
Chunk 19
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 in complex and unpredictable ways, and the impact of any one factor may be offset or magnified by the effect of another factor. These factors may interact with each other in complex and unpredictable ways. The following paragraphs describe a specific factor’s expected impact on the market value of the notes, assuming all other conditions remain constant.

| • | Value of the Market Measure.We anticipate that the market value of the notes prior to maturity or an automatic call generally                                                                                                                  
 will depend to a significant extent on the value of the Market Measure. In general, it is expected that the market value of the notes will decrease as the value of the Market Measure decreases. However, as the value of the Market Measure  
 increases, the market value of the notes may decrease or may not increase at the same rate. If you sell your notes when the value of the Market Measure is less than, or not sufficiently above, the applicable Threshold Value or Call Level, 
 then you may receive less than the principal amount of your notes.                                                                                                                                                                             |

In addition, because the return on the notes will not exceed the applicable Call Premium, we do not expect that the notes will trade in any secondary market at a price that is greater than the applicable Call Amount.

| • | Volatility of the Market Measure.Volatility is the term used to describe the size and frequency of market fluctuations. The volatility of the Market                                                                                           
 Measure during the term of the notes may vary. In addition, an unsettled international environment and related uncertainties may result in greater market volatility, which may continue over the term of the notes. Increases or decreases in 
 the volatility of the Market Measure may have an adverse impact on the market value of the notes. Even if the value of the Market Measure increases after the applicable pricing date, if you are able to sell your notes before their         
 maturity date, you may receive substantially less than the amount that would be payable upon an automatic call or at maturity based on that value because of the anticipation that the value of the Market Measure will continue to fluctuate  
 until the notes are automatically called or the final Observation Date, as applicable.                                                                                                                                                         |

| • | Economic and Other Conditions Generally.The general economic conditions of the capital markets in the United States, as well as                                                                                                                                                                                                                                                
 geopolitical conditions and other financial, political, public health, regulatory, and judicial events, natural disasters, acts of terrorism or war, and related uncertainties that affect stock or commodity markets generally, may adversely                                                                                                                                 
 affect the value of the Market Measure and the market value of the notes.