Company: TDBCP
Filing Date: 2025-11-18
Form Type: 424B2
Source: 0001140361-25-042587
Chunk: 25

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-18
Form: 424B2
Chunk 25
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 selling concessions, discounts, commissions or fees expected to be allowed or paid to non-affiliated intermediaries, the       
 estimated profit that we or any of our affiliates expect to earn in connection with structuring the securities, estimated costs which we may incur in connection with the securities and the estimated cost which we may incur in hedging our    
 obligations under the securities. Because our internal funding rate generally represents a discount from the levels at which our benchmark debt securities trade in the secondary market, the use of an internal funding rate for the securities 
 rather than the levels at which our benchmark debt securities trade in the secondary market is expected to have had an adverse effect on the economic terms of the securities.                                                                   
 On the cover page of this pricing supplement, we have provided the estimated value for the securities. The estimated value was determined by reference to our internal pricing models which                                                      
 take into account a number of variables and are based on a number of assumptions, which may or may not materialize, typically including volatility, interest rates (forecasted, current and historical rates), price-sensitivity analysis, time  
 to maturity of the securities and our internal funding rate. For more information about the estimated value, see “Risk Factors — Risks Relating to Estimated Value and Liquidity” herein. Because our internal funding rate generally represents |                   |

| November 2025 | Page24 |

| $10,073,000 Contingent Income Auto-Callable Securities due November 17, 2028                                                            |
| Based on the Worst Performing of the Common Stock of Apple Inc., the Common Stock of Amazon.com, Inc. and the Common Stock of Microsoft 
 Corporation                                                                                                                             
 Principal at Risk Securities                                                                                                            |

|                                  | a discount from the levels at which our benchmark debt securities trade in the secondary market, the use of an internal funding rate for the securities rather than the levels at which our benchmark debt                                       
 securities trade in the secondary market is expected, assuming all other economic terms are held constant, to increase the estimated value of the securities. For more information see the discussion under “Risk Factors — Risks Relating to    
 Estimated Value and Liquidity — The estimated value of your securities is based on our internal funding rate”.                                                                                                                                   
 Our estimated value of the securities is not a prediction of the price at which the securities may trade in the secondary market, nor will it be the price at which the agent may buy or sell                                                    
 the securities in the secondary market. Subject to normal market and funding conditions, the agent or another affiliate of ours