Company: TDBCP
Filing Date: 2025-10-14
Form Type: 424B2
Source: 0001140361-25-038077
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-14
Form: 424B2
Chunk 14
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 judicial ruling to the contrary, to characterize your notes as prepaid derivative contracts with respect to the Market Measure. Interest payments on the notes (including any interest payments paid on or with respect to the maturity date) will be treated as ordinary income includable in income by you in accordance with your regular method of accounting for U.S. federal income tax purposes. Holders are urged to consult their tax advisors concerning the significance, and the potential impact, of the above characterization. If your notes are so treated, upon the taxable disposition (including cash settlement) of a note, you generally should recognize gain or loss in an amount equal to the difference between the amount realized (less any accrued and unpaid interest, which would be taxable as such and, at maturity, inclusive of the step payment, if received) on such taxable disposition and your tax basis in the note. Your tax basis in a note generally should equal your cost for the note. Such gain or loss should generally be long-term capital gain or loss if you have held your notes for more than one year (otherwise such gain or loss should be short-term capital gain or loss if held for one year or less). However, no assurance can be given that the IRS or the courts will agree with this characterization (including treatment of any step payment as capital gain). The deductibility of capital losses is subject to limitations. Based on certain factual representations received from us, our special U.S. tax counsel, Fried, Frank, Harris, Shriver & Jacobson LLP, is of the opinion that it would be reasonable to treat your notes in the manner described above. However, because there is no authority that specifically addresses the tax treatment of the notes, it is possible that your notes could alternatively be treated for tax purposes as a single contingent payment debt instrument or pursuant to some other characterization, such that the timing and character of your income from the notes could differ materially and adversely from the treatment described above, as described further under “Material U.S. Federal Income Tax Consequences — Alternative Treatments” on page PS-36 of product supplement STEPS-1. Notice 2008-2.In 2007, the IRS released a notice that may affect the taxation of holders of the notes. According to Notice 2008-2, the IRS and the Treasury are considering whether a holder of an instrument such as the notes should be required to accrue ordinary income on a current basis. It is not possible to determine what guidance they will ultimately issue, if any. It is possible, however, that under such guidance